Posted by **snow ** on Monday, January 11, 2010 at 8:44pm.

2,200 after 3 years if the account pays 8.4%

i have no clue what this is

- algebra -
**MathMate**, Monday, January 11, 2010 at 9:15pm
What is the question?

It helps to post the complete question even though there is more typing to do.

I suppose the question requires you to calculate the original deposit (principal) three years ago.

At 8.4% p.a. compound interest,

$1000 will yield 1000*(1.084³) after three years, or $1273.76.

If the combined interest and principal after three years is $2200, the the principal can be calculated by proportion, namely

P=1000*(2200/1273.76)=$1727.17

So check if my assumptions correspond to those of the question. If not, please post the complete question.

## Answer this Question

## Related Questions

- algebra - Suppose Mary deposits $200 at the end of each month for 30 years into ...
- Precalculus - NEED HELP ASAP PLEASE!! A savings account starts with $600 and ...
- Algebra Grade 7 - If a bank offers a savings account that pays simple interest ...
- algebra - you invest $2800 in an account that pays an interest of 5.5%, ...
- math - Suppose $500 is divided into two bank accounts. One account pays 15% ...
- math - Suppose a young couple deposits $700 at the end of each quarter in an ...
- differential equation - If P(t) is the amount of dollars in a savings bank ...
- Annuities - Victore French mad a deposit of 5000 at the end of ech quarter to ...
- Algebra - Suppose that you deposit $1735.50 in a savings account that pays 9.25...
- pre-algebra - You split $1500 between two savings accounts. Account A pays ...

More Related Questions