Answer:
<em>You should deposit 700 pieces today if you want to use the total amount to pay the fees.</em>
Step-by-step explanation:
Suppose, you should deposit number of pieces today.
<u>Formula for simple interest</u>: , where I = Amount of interest, P= Initial deposit amount, r= rate of interest in decimal form and t= time duration.
Here, the number of pieces is deposited at an annual interest rate of 10% for three years. That means, and
Using the above formula, we will get.......
Given that, <u>you need total 910 pieces </u>of muggle-money to study after three years. So, the equation will be......
So, you should deposit 700 pieces today if you want to use the total amount to pay the fees.