document.write( "Question 164260: An investmentnof $1200 earns $96 each year, at the same rate, how much additional money must be invested to earn $128.00 each year? \n" ); document.write( "

Algebra.Com's Answer #121032 by jojo14344(1513) $\"\"$ $\"About$

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\n" ); document.write( "Remember: $\"I=PR\"$ , working eqn
\n" ); document.write( "where: $\"I=interest\"$ ; $\"P=principal\"$ ; $\"R=rate\"$
\n" ); document.write( "We'll get the $\"Rate\"$ first accdg. to 1st scenario:
\n" ); document.write( "Via working eqn,
\n" ); document.write( " $\"96=1200%28R%29\"$
\n" ); document.write( " $\"R=96%2F1200\"$ *100%
\n" ); document.write( "R=8%
\n" ); document.write( "So,
\n" ); document.write( "For the 2nd scenario:
\n" ); document.write( " $\"128=P%280.08%29\"$
\n" ); document.write( " $\"P=128%2F0.08=1600\"$ , Total amount needed
\n" ); document.write( "Therefore, $\"1600-1200=highlight%28400%29\"$ , ANSWER. Additional money needed to have interest total of $128 per year
\n" ); document.write( "Thank you,
\n" ); document.write( "Jojo
\n" ); document.write( " \n" ); document.write( "

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