Using the compound interest formula
A = sh. 40000
r= 7.5% per period
n = 8 interest period
therefore P(1 +7.5/100)^8 = 40000
P(1.075)^8 = 40000
P = 40000/(1.075)^8
P= sh. 22428.09
joseph rimiru answered the question on November 16, 2017 at 19:08
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