SOLUTION: Job needs $2000.00 by September 1, 1996 to pay for his tuition. If He 7% simple interest per annum,how much should he invest on February 1, 1996 in other to accumulate the amount r
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Question 1177928: Job needs $2000.00 by September 1, 1996 to pay for his tuition. If He 7% simple interest per annum,how much should he invest on February 1, 1996 in other to accumulate the amount required?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
2000 = x+ x* 0.07*7/12
24000 = 12x +0.49x
24000= 12.49x
24000/12.49=x
1921.5= P
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