Question

How to solve this problem? (the answer is 908.52). i want to know the step by step on how to solve the equation given. if it helps, i am a grade 10 student.

Answer 1

Given the formula:

`P=1000(1.0325)^(-3)`

So, the value of P = $908.51

To find the answer, we will use the calculator

note: the value:

`(1.0325)^(-3)=(1)/(1.0325^3)`

The given formula can be written as:

`P=(1000)/(1.0325^3)=(1000)/(1.0325*1.0325*1.0325)=908.51`