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Q: Pierce currently has 10000 What was the value of his money five years ago if he has earned 5 percent interest each year?

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Rate of interest.

2.25

The annual (or annualised) interest rate.

$2400

5% ($72.50) per year.

400.

It will be 160.

6 ÷ 100 × 20000 = 1200

200 intrest

Interest = 2472

T = 3yrs

$74.90

I

320

3000

Account B

The "13 percent rate" is the equivalent annual rate. So the interest will be 130.

Compound Interest

Times Interest Earned = Operating Income/ Interest Expense.

6.99/100 * $12000 * 72/12 = $5032.80 interest earned

350*0.025*5 = 43.75

2.25 percent apex

Sorry I really don't know.

70 x 8 x 3/4 ie 420

10 years

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