Question

Lian invested an amount of money at an interest rate of 5.2% per year.

Answer 1

Answer:

$6500

Step-by-step explanation:

Let the amount of money invested by Lian be $x

Interest rate = 5.2% per year

interest earned in first year will be  5.2% of  amount of money invested by Lian .

(note: since in first year there will be no interest accrued on interest so interest for first year is simple interest )

interest earned in one year if money invested by Lian is $x

= 5.2% of $x  (1)

But , it is given in one year  she received interest of 338 dollars

so, 338 dollars must be equal to 5.2% of $x

equating $338 with  5.2% of $x  , we have

5.2% of x  = 338

=> (5.2/100) * x = 338

=>5.2 x = 338*100

=> x = 33800/5.2 = 6500.

Thus,  amount of money Lian invested is $6500.