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If the compound interest on a sum of money for 3 years at 12% per annum is $500,

Practice Questions

Q1
If the compound interest on a sum of money for 3 years at 12% per annum is $500, what is the principal amount?
  1. $1500
  2. $1600
  3. $1700
  4. $1800

Questions & Step-by-Step Solutions

If the compound interest on a sum of money for 3 years at 12% per annum is $500, what is the principal amount?
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