SOLUTION: How much money must be invested at 8% simple interest to earn $60 in 1 year?
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Question 242132: How much money must be invested at 8% simple interest to earn $60 in 1 year?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
How much money must be invested at 8% simple interest to earn $60 in 1 year?
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I = Prt
60 = P*0.08*1
P = 60/0.08
P = $750
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Cheers,
Stan H.
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