Your investment account have grown by 6.9% .Currently you have R6414 in this account .What was the balance in your account one year ago before this gain

Solution

Solution

Amount : 6856.566

Solution steps

Translate the problem into an equation:

A = 6414 (1 + 0.069 \cdot 1)

6414 (1 + 0.069 \cdot 1) = 6856.566

Amount : 6856.566

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