A term account earns 3.6%, compounded daily for 3 years. If the amount is $8411.02 at the end of the 3 year period, what was the principal.

Formula: A = P (1 + R/N) to the power of {NT}

Question

08-02-2021
Mathematics

Answered

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A term account earns 3.6%, compounded daily for 3 years. If the amount is $8411.02 at the end of the 3 year period, what was the principal.

Formula: A = P (1 + R/N) to the power of {NT}

Sagot :

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