document.write( "Question 697154: John wants to have an interest income of $3000 a year. How much must he invest for one year at 8%? \n" ); document.write( "
Algebra.Com's Answer #429702 by god2012(113)\"\" \"About 
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Given :\r
\n" ); document.write( "\n" ); document.write( "Interest Amount per year = $3000
\n" ); document.write( "Rate of interest = 8% p.a.\r
\n" ); document.write( "\n" ); document.write( "To find : Principal = ?\r
\n" ); document.write( "\n" ); document.write( "We know that , \"I+=+P%2AT%2AR%2F100\"\r
\n" ); document.write( "\n" ); document.write( "or \"P+=+%28100%2AI%29%2F%28T%2AR%29\"\r
\n" ); document.write( "\n" ); document.write( "\"P+=+%28100%2A3000%29%2F%281%2A8%29\" \r
\n" ); document.write( "\n" ); document.write( "P = $37500
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