lold3323
contestada

Ndiba invests a sum of money in a savings
account with a fixed annual interest rate of
4.61% compounded 3 times per year. After
6 years, the balance reaches $5,485.85.
What was the amount of the initial
investment?

Respuesta :

26stewada

Answer as a step-by-step explanation:

Use the given functions to set up and simplify

485.85

4.61%

0.04613 = 0.0461 year = 0.0461

6 years = 0.04615 = 0.0461

485.85

=

0.0461

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