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3 years ago

How much should you invest at 2.1% simple interest in order to earn $85 interest in 7 months?

Mathematics

1 answer:

Natasha_Volkova [10]3 years ago

3 0

Answer:

$6938.78

Step-by-step explanation:

Interest = Principal x Rate x Time (in years)

let 'P' = Principal

85 = P × .021 × $\frac{7}{12}$

85 = .01225P

85 / .01225 = P

6938.78 = P

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How much should you invest at 2.1% simple interest in order to earn $85 interest in 7 months?​

How much should you invest at 2.1% simple interest in order to earn $85 interest in 7 months?