SOLUTION: How much money should be invested at an anual rate of 12% in order to earn $300 interest in a year? $______ Thank you

SOLUTION: How much money should be invested at an anual rate of 12% in order to earn $300 interest in a year? $______ Thank you

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Question 40883: How much money should be invested at an anual rate of 12% in order to earn $300 interest in a year?
$______
Thank you
Answer by checkley71(8403) (Show Source): You can put this solution on YOUR website!
I=PRT OR 300=P*.12*1 OR 300=.12P OR P=300/.12 OR P=2500
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