Annuity calculation problem

  1. 1. The problem statement, all variables and given/known data

    Please with me with this kind of problem.

    You borrow money of P. Given that you paid a certain amount A for N years.
    If P accumulates 5% for the first 8 years and 7% for the remaining 12 years.
    What is P?

    The values of A and N are given. I just want to know how to solve this
    kind of problem
     
  2. jcsd
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: Annuity