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AGummiBear55
Help me with this ?? Ryan has an account balance of $945.36 in a savings account that earns interest at a rate of 4.5% compounded monthly. If Ryan opened the account eight years ago, what was the principal deposit? 945.36=P(1+.045/4)^(12)(8)
Is the answer $660??
should be: 945.36=P(1+.045/12)^(12)(8) now just solve for P
so the answer is 660, correct?