SOLUTION: After 20 years, Sheila's account earned $600 in interest. If the interest rate (in decimal form) is 0.1, how much did Sheila initially invest?

SOLUTION: After 20 years, Sheila's account earned $600 in interest. If the interest rate (in decimal form) is 0.1, how much did Sheila initially invest?

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Question 1048203: After 20 years, Sheila's account earned $600 in interest. If the interest rate (in decimal form) is 0.1, how much did Sheila initially invest?

Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!

$600 = P(.10/yr)(20yr)
= $600/2 = $300 = P, how much Sheila initially invested
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