Answer:
The answer is "$3640.58"
Step-by-step explanation:
This question is incomplete, that's why we add another question in the attached file. Please find it.
P = [tex]\$ \ 1300[/tex] and effective per year is = interest rate per year = 7.2
Total [tex]\$ \ 1300[/tex] due after 8 years is P+PRT:
[tex]\to 1300(1+0.072 \times 8)\\\\\to 1300(1+ 0.576)\\\\\to 1300(1.576)\\\\\to \$ \ 2048.8[/tex]
[tex]\to Total \ X = \$ \ (7000-2048.8) \\\\[/tex]
[tex]= \$ \ 4951.2 \\\\= X(1 +0.072 \times 5)\\\\=1.36 X \\\\[/tex]
The number of dollars is X [tex]= \frac{4951.2}{1.36} = \$ \ 3640.58[/tex]
