Mathematics, 21.04.2021 19:00 rebecca0022
A business has a savings account that earns a 3% annual interest rate. At the end of 1996, the business had $4,000 in the account. The
formula F
+
100
is used to determine the amount in the savings account.
p(1
a)
. Fis the final amount,
• p is the initial investment amount,
. ris the annual interest rate, and
. tis the time in years.
To the nearest dollar, how much did the business initially invest in 1991?
Answers: 3
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A business has a savings account that earns a 3% annual interest rate. At the end of 1996, the busin...
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