Question

Pierce currently has $10,000. What was the value of his money five years ago if he has earned 5 percent interest each year?


A.

$7,462.15




B.
$7,835.26




C.
$8,548.04

Answer 1

just need answer choice

Answer 2

Don't you know how to get the right answer?

Answer 3

nope

Answer 4

P x(1+i)^t

p
-
(1+i)^t

Answer 5

Yes. That's right.
\(P(1+i)^t=10000, \ i =0.05, \ t =5\)
Solve an equation and find P.