SOLUTION: how much money would have had to be invested to earn $436 simple interest at 1 percent for 2 years
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Question 878660: how much money would have had to be invested to earn $436 simple interest at 1 percent for 2 years
Answer by jim_thompson5910(35256) (Show Source): You can put this solution on YOUR website!
I = P*r*t
436 = P*0.01*2
436 = P*0.02
436/0.02 = P
21,800 = P
P = 21,800
You need to invest $21,800
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