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adell [148]
3 years ago
9

Kaleb makes an investment at 5.2 percent simple interest. At the end of 1 year, the total value of the investment is $2419.60. H

ow much was originally invested?
Mathematics
1 answer:
Dafna11 [192]3 years ago
3 0
The future amount of the current deposit given that the interest is simple and yearly is computed through the equation,
                                 F = P x (1 + in)
where P is the principal amount, F is the future amount, i is the interest (in decimal form) and n is the number of years.

In this certain problem, we substitute the known values to the equation and solve for P,
                             2419.60 = P x (1 + (0.052)(1)) 
                                       P = 2300
Thus, the initial investment was worth $2,300. 
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