SOLUTION: How much money must be invested at 12% simple interest to earn $770 in 5 months?
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Question 527112: How much money must be invested at 12% simple interest to earn $770 in 5 months?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
I=Prt
I/(rt)=P
770/(0.12/12*5)=P
770/0.05=P
P=$15,400
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