SOLUTION: Money is invested in a "guaranteed fund" at 12% simple interest. After one year, there is $840 in the account. How much was originally invested?

SOLUTION: Money is invested in a "guaranteed fund" at 12% simple interest. After one year, there is $840 in the account. How much was originally invested?

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Question 96455This question is from textbook Algebra I
: Money is invested in a "guaranteed fund" at 12% simple interest. After one year, there is $840 in the account. How much was originally invested? This question is from textbook Algebra I

Answer by checkley71(8403) (Show Source): You can put this solution on YOUR website!
(1.12*X)=840
X=480/1.12
X=$428.57 AMOUNT OF INITIAL INVESTMENT.
PROOF
428.57*1.12=480
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