SOLUTION: How much money should be invested in an annual interest rate of 8% in order to earn $250 of yearly interest? Thanks you very much

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Question 40346: How much money should be invested in an annual interest rate of 8% in order to earn $250 of yearly interest?

Thanks you very much

Answer by Nate(3500) About Me  (Show Source):
You can put this solution on YOUR website!
I = PRT
250 = P*0.08*1
250/0.08 = P
3125 = P