SOLUTION: How much do you need to invest in order to earn $10000 if you have been offered 3% for 2 years?
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Question 1124465: How much do you need to invest in order to earn $10000 if you have been offered 3% for 2 years?
Answer by josgarithmetic(39623) (Show Source): You can put this solution on YOUR website!
Ignoring any compounding inside the year periods,
, approximately
-
check:
164000*0.03=4920;
(164000+4920)*0.03=5068;
total interest, 9988
close-enough
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