Plzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz can anyone help me in this question. it is due today and if I don't get it correct I will be excluded form my school. this is the question. Rashid invests money into account which pays a fixed rate compound interest each year. The value ,£V, of his investment after t years is given by the formula V=1250X1.03t How much money did Rashid invest?

QUESTION POSTED AT 01/06/2020 - 03:26 PM

Answered by admin AT 01/06/2020 - 03:26 PM

The formula of the compound interest is V = V₀(1+r%)ⁿ, where V₀ is the initial amount invested, r= interest in%, n = the period or number of years
and V the new amount of his investment:
In your given formula 1250(1.03)^t which is similar to V= 1250(1+3%)^t
We notice that 1250 occupies the place of the initial investment, so Rashid
invested 1250
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