SOLUTION: at the end of one year erics investment at an annual intrest rate 7.25% earned 65.25. how much money did eric invest?
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Question 465911: at the end of one year erics investment at an annual intrest rate 7.25% earned 65.25. how much money did eric invest?
Answer by robertb(5830) (Show Source): You can put this solution on YOUR website!
Assuming simple interest, and by using the formula I = P*r*t,
we get
65.25 = P*0.0725*1
==> P = 900
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