document.write( "Question 1094320: How much money in dollars should a person deposit in a 6-months certificate of deposit CD that earns 9% simple interest in order to have $7000 when the CD matures at the end of the 6 months? Round your answer up to the nearest cent. (Enter a number.)
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Algebra.Com's Answer #709025 by ankor@dixie-net.com(22740) $\"\"$ $\"About$

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How much money in dollars should a person deposit in a 6-months certificate of deposit CD that earns 9% simple interest in order to have $7000 when the CD matures at the end of the 6 months? Round your answer up to the nearest cent.
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\n" ); document.write( "Let Ao = amt to be invested
\n" ); document.write( "Use the formula $\"A+=+Ao%281%2B%28r%2Fn%29%29\"$
\n" ); document.write( " $\"7000+=+Ao%281%2B%28.09%2F2%29%29\"$
\n" ); document.write( "7000 = Ao*1.045
\n" ); document.write( "Ao = $\"7000%2F1.045\"$
\n" ); document.write( "Ao = $6698.56 \n" ); document.write( "

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