A sum 6

A sum at simple interest of 4% per annum amounts to 3120 USD in 5 years. Find the sum.

Correct answer:

s =  2600 USD

Step-by-step explanation:

r=4%=1004=251=0.04 a=3120 USD y=5  r5=y r=5 0.04=51=0.2  s (1+r5) = a  s=1+r5a=1+0.23120=2600 USD



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