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Tomtit [17]
3 years ago
11

after 5 years of earning at an annual rate of 4 percent, an investment has earned 1200 in interest. determine the amount of the

initial investement
Mathematics
1 answer:
8_murik_8 [283]3 years ago
3 0
\bf ~~~~~~ \textit{Simple Interest Earned}
\\\\
I = Prt\qquad 
\begin{cases}
I=\textit{interest earned}\to &\$1200\\
P=\textit{original amount deposited}\\
r=rate\to 4\%\to \frac{4}{100}\to &0.04\\
t=years\to &5
\end{cases}
\\\\\\
1200=P(0.04)(5)\implies \cfrac{1200}{(0.04)(5)}=P\implies 6000=P
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