SOLUTION: Kris makes an investment at 5.8% simple interest. At the end of one year, the total value of the investment is 2909.50. How much was originally invested.

Question 596393: Kris makes an investment at 5.8% simple interest. At the end of one year, the total value of the investment is 2909.50. How much was originally invested.
Answer by jim_thompson5910(35256) (Show Source): You can put this solution on YOUR website!
Start with the simple interest formula.

Plug in , (the decimal equivalent of 5.8%), and .

Factor out the GCF "P" from the right side.

Multiply 0.058 and 1 to get 0.058.

Add 1 to 0.058 to get 1.058.

Divide both sides by 1.058 to isolate "P".

Rearrange the equation.

Divide.

So $2750 was originally invested.
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