Asked by kelvin

Plz i need your help how to solve and arrive to the answer#

A richman wants to earn one million shillings in 10 years. What amount should he invest in the bank if the interest rate is 2.5% per year?
Answered by scott
1000000 = x (1 + .025)^10

[log(1E6)] / [10 log(1.025)] = log(x)
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