Question

How much should you invest at 3.7% simple interest in order to earn $70 interest in 11 months?

Answer 1

Step-by-step explanation:

in this condition we are given simple interest time and rate

so principal is missing so we should use the formula of principal that is

P=I×100/T×R

but we should convert that month in to years and we convert it by dividing it by 12.