Can u guys PLEASE answer this question ASAP.
Find the initial investment amount to the nearest dollar given these final balances, annual interest rates and time periods. Assume interest is compounded annually in each case.
$26 500, 4%, 3 years.

the initial investment is $23556.

Step-by-step explanation:

We would apply the formula for determining compound interest which is expressed as

A = P(1+r/n)^nt

Where

A = total amount in the account at the end of t years

r represents the interest rate.

n represents the periodic interval at which it was compounded.

P represents the principal or initial amount deposited

From the information given,

A = $26500

r = 4% = 4/100 = 0.04

n = 1 because it was compounded once in a year.

t = 3 years

Therefore,.

26500 = P(1+0.04/1)^1 × 3

26500 = P(1.04)^3

26500 = 1.125P

P = 26500/1.125

P = $23556

70,000 + 6,000 + 800 + 30

step-by-step explanation: