document.write( "Question 1089835: Stanley would like to have R6800 in his savings account at the end of 48 months. If he earns 12% simple interest per annum determine how much he must initially invest \n" ); document.write( "

Algebra.Com's Answer #704327 by josmiceli(19441) $\"\"$ $\"About$

You can put this solution on YOUR website!
$\"+I+=+P%2Ar%2At+\"$
\n" ); document.write( " $\"+I+%2B+P+=+6800+\"$
\n" ); document.write( "--------------------
\n" ); document.write( " $\"+t+=+48%2F12+\"$
\n" ); document.write( " $\"+t+=+4+\"$
\n" ); document.write( " $\"+r+=+.12+\"$
\n" ); document.write( "--------------------
\n" ); document.write( " $\"+I+=+6800+-+P+\"$
\n" ); document.write( " $\"+6800+-+P+=+P%2A.12%2A4+\"$
\n" ); document.write( " $\"+6800+-+P+=+.48P+\"$
\n" ); document.write( " $\"+P+%2B+.48P+=+6800+\"$
\n" ); document.write( " $\"+1.48P+=+6800+\"$
\n" ); document.write( " $\"+P+=+4594.59+\"$
\n" ); document.write( "He must invest $4,594.59 initially
\n" ); document.write( "---------------------
\n" ); document.write( "check:
\n" ); document.write( " $\"+I+=+6800+-+P+\"$
\n" ); document.write( " $\"+I+=+6800+-+4594.59+\"$
\n" ); document.write( " $\"+I+=+2205.41+\"$
\n" ); document.write( " $\"+I+=+P%2Ar%2At+\"$
\n" ); document.write( " $\"+2205.41+=+4594.59%2A.12%2A4+\"$
\n" ); document.write( " $\"+2205.41+=+.48%2A4594.59+\"$
\n" ); document.write( " $\"+2205.41+=+2205.40+\"$
\n" ); document.write( "( error due to rounding off, I think )\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( " \n" ); document.write( "

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