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r-ruslan [8.4K]

3 years ago

14

after five years of earning interest at an annual rate of 4% and investment has earned $1,200 in interest determine the amount o

f initial investment show all work for full credit

1 answer:

loris [4]3 years ago

6 0

Answer:

$6000

Step-by-step explanation:

$1200/5years =$240/1yr

$240=4%

:. 1%=$60

Initial investment =$60*100%=$6000

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