Step-by-step Answer
PAGE: 321SET: ExercisesPROBLEM: 65
Please look in your text book for this problem Statement

The total Income is  .

Time period is years.

Rate of interest .

Find principal income compounded annually.

Compound interest is .

For annually compounded .

Substitute all the values in the equation.




Therefore,the prinicipal income is .

The prinicipal income is .


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