algebra

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


i have no clue what this is

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asked by snow
  1. 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.

    posted by MathMate

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