document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=309835>Question 309835</A>: <I><SPAN STYLE=\"word-break: break-all;\"> What amount of money should you invest today, at 6 1/8% simple interest per year, in order to yield a future value of $8,500 at the end of two years and three months? <BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #221597 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=221597\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> What amount of money should you invest today, at 6 1/8% simple interest per year, in order to yield a future value of $8,500 at the end of two years and three months? <BR>\n" );
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document.write( "A(t) = P + I<BR>\n" );
document.write( "A(t) = P + Prt<BR>\n" );
document.write( "A(t) = P(1+rt)<BR>\n" );
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document.write( "A(2 1/4 yrs) = P (1 + 0.06125*2.25)<BR>\n" );
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document.write( "8500 = P(1.1370)<BR>\n" );
document.write( "P = $7470.48<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
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