SOLUTION: After 10 years, Brian's account earned $600 in interest. If the interest rate (in decimal form) is 0.08, how much did Brian initially invested?
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Question 1015215: After 10 years, Brian's account earned $600 in interest. If the interest rate (in decimal form) is 0.08, how much did Brian initially invested?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
After 10 years, Brian's account earned $600 in interest. If the interest rate (in decimal form) is 0.08, how much did Brian initially invested?
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I = P*r*t
600 = P*0.08*10
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60 = 0.08P
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P = 60/0.08
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P = 6000/8
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P = $750.00
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Cheers,
Stan H.
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