algebra

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pricipal is30,000 rate of interest is three and five eigth time thirty years find amount in account .show me step by step how to solve

  • algebra -

    Since you didn't say how often it was compounded, i'll assume simple interest.

    Pt = Po + r*t*Po,

    Pt = Amount after time t (30 years),
    Po = Initial investment,
    r = annual percentage rate (APR) expressed as a decimal.

    Pt = 30000 + 0.03625 * 30 * 30000,
    Pt = 30000 + 32625 = 62625.

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