Will someone please show me how to solve this?
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Period is not mention
P = 3000
r = 7% per year = 7/12 per month effective rate.
if period is given in years convert it into month
consider for 1 year.
A = P(1 + r/1200)^12t
= 3000(1.00583)^12
= 3216.87
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P = 3000
r = 7% per year = 7/12 per month effective rate.
if period is given in years convert it into month
consider for 1 year.
A = P(1 + r/1200)^12t
= 3000(1.00583)^12
= 3216.87
----