Use the simple interest formula 1=prt find the amount that needs to be invested at 7%per year for 12 years in order to earn 2500
1 answer:
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We want to find y from the equation
Multiply each side by (y - 2).
Note that (y-2) in the numerator and denominator cancel out on the left side.
Therefore
3 = 8(y - 2)
3 = 8y - 16
Add 16 to each side.
3 + 16 = 8y - 16 + 16
19 = 8y
Divideach side by 8.
19/8 = y
Answer:
Multiply each side by (y - 2).
Note that (y-2) in the numerator and denominator cancel out on the left side.
Therefore
3 = 8(y - 2)
3 = 8y - 16
Add 16 to each side.
3 + 16 = 8y - 16 + 16
19 = 8y
Divideach side by 8.
19/8 = y
Answer: