SOLUTION: John wants to have an interest income of $3,000 a year. How much must he invest for one year at 8%?

SOLUTION: John wants to have an interest income of $3,000 a year. How much must he invest for one year at 8%?

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Question 696771: John wants to have an interest income of $3,000 a year. How much must he invest for one year at 8%?
Answer by MathGeek87(9) (Show Source): You can put this solution on YOUR website!
0.08*X=3000
X=3000/0.08
X =
37500
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