The deposit

Deposit has been placed for one year at an annual rate of 4.5%. After the added interst amount rose to € 2,612.5.
Determine initial deposit.

Correct result:

x =  2500

Solution:


1.045 x = 2612.5

1.045•x = 2612.5

1.045x = 2612.5

x = 2500

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