Problem involving Compound Interest
Problem involving Compound Interest
TGM Original
Sam invested a sum of money into a savings account at an interest rate \(4\%\) per annum, compounded yearly.
Find the sum of money he invested if there was \(\$16\mathrm{}872.96\) in his account at the end of \(3\) years.
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Answer:\(\$15\,000\).
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