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MatroZZZ
17 days ago
6

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

Mathematics
2 answers:
babunello [11.8K]17 days ago
4 0
The initial response is accurate; if you account for a 5% reduction each year, this will hold true.
lawyer [12.5K]17 days ago
3 0
$7,835.26 Step-by-step explanation: Let x represent the value of his funds five years prior. Given the annual interest rate is 5% and the time frame is 5 years, the amount after this period is calculated accordingly. Hence, the value of his funds five years earlier was $7,835.26.
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It is essential to consider the following:

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