SOLUTION: the future value of a simple interest investment is given by S = P(1+rt). What principal P must be invested for t=5years at the simple interest rate r=10% so that the future value
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Question 343481: the future value of a simple interest investment is given by S = P(1+rt). What principal P must be invested for t=5years at the simple interest rate r=10% so that the future value grows to $9000?
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
Re-arrange your formula to solve for P:
Now just plug in your numbers and do the arithmetic.
John
My calculator said it, I believe it, that settles it
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