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Pierce currently has 10000 What was the value of his money five years ago if he has earned 5 percent interest each year?
Updated: 4/28/2022
Wiki User
∙ 11y agoBest Answer
simple interest ..
A = P(1+r)t
10000 = P(1.05)5
P = 10000 / (1.05)5
P = 7835.26
Wiki User
∙ 11y agoThis answer is:
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