Answered

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Help Meeee Pls So I Can Pass Is The Only Questions I Dont Understand Plsss class=

Sagot :

Answer:

Without going to tables:

Suppose 1$ originally deposited

After 18 years using A (1 + i)^18 = 1.04^18 = 2.0258 $

Interest earned on the 1$ was 1.0258

How many $ deposited to earn $72

72 / 1.0258 = 70.18

So the original deposit was 70.188

Check:

70.188 * (1.04)^18 = 142.19 Collected at 18

If 70.18 was initially deposited then

142.19 - 70.18 = 72  is the interest earned

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