I can't solve this problem help please!!!
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I can't solve this problem help please!!!

[From: ] [author: ] [Date: 12-02-21] [Hit: ]
ANSWER35000 $ and 5.pr=pr=>a=bfrom that solve the equations and u will get p=31721apply to 47713-p=pr6 then u will get r=.......
A certain amount will be deposited to a bank with a certain interest rate.6 years after deposit the amount is 47 713 $ and three more on the balance of 55 709 USD. Determine the initial deposit and the account's interest rate.

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Formula for Compound Interest =

A = P ( 1 + r/100)^n

Assuming the interest is compounded annually


55709 = 47713 ( 1 + r/100)^3

r = 5.3 %

47713 = P ( 1 + 5.3/100)^6

P = 35000 $

ANSWER 35000 $ and 5.3% compounded annually

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i=prt
1_ 47713-p=pr(6)
pr=(47713-p)/6 --a

2_ 55709-p=pr(9)
pr=(55709-p)/9 --b

pr=pr => a=b
from that solve the equations and u will get p=31721
apply to 47713-p=pr6
then u will get r=.08
1
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