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maloneariana16 maloneariana16
  • 05-06-2015
  • Mathematics
Answered

If I have $500 in my account after 4 years investing at 2.5% per year, how much money did I start with?

Verified Answer :

alexisp
alexisp alexisp
  • 05-06-2015

using the same form as above: 
a*1.025^t = 500. 
a = 500/(1.025^t), where t=6 and a is the starting amount. 
Thus: 
a = 500/(1.025^6) = 431.148433 = 431.15$ 

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