Find the principle amount that will grow to $25,000 if interest is 3.2% compounded monthly for 3 years?

The principal amount is $22.747.95

Step-by-step explanation:

Given:

Amount = %25000

Time = 3 years

Rate of interest = 3.2%

To Find:

the principal amount = ?

Solution:

The principal amount

Where

A is the amount

n  is the number of times that interest is compounded per unit t

t is the number of years

r is the rate of interest

On substituting the values

i got 86 for this

hope this !

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