document.write( "Question 1126202: Graduation is 3 years away and you want to have $1400 available for a trip. If your bank is offering a 3-year CD (certificate of deposit) paying 2.7% simple interest, how much do you need to put in this CD to have the money for your trip? \n" ); document.write( "

Algebra.Com's Answer #742526 by josmiceli(19441) $\"\"$ $\"About$

You can put this solution on YOUR website!
$\"+I+=+P%2Ar%2At+\"$
\n" ); document.write( " $\"+r+=+.027+\"$
\n" ); document.write( " $\"+t+=+3+\"$
\n" ); document.write( "After 3 yrs you want:
\n" ); document.write( " $\"+I+%2B+P+=+1400+\"$
\n" ); document.write( " $\"+I+=+1400+-+P+\"$
\n" ); document.write( "---------------------
\n" ); document.write( " $\"+1400+-+P+=+P%2A.027%2A3+\"$
\n" ); document.write( " $\"+1400+-+P+=+.081P+\"$
\n" ); document.write( " $\"+1.081P+=+1400+\"$
\n" ); document.write( " $\"+P+=+1295.1+\"$
\n" ); document.write( "you need to put $1,295.10 in CD
\n" ); document.write( "-------------
\n" ); document.write( "check:
\n" ); document.write( " $\"+I+=+1295.1%2A.027%2A3+\"$
\n" ); document.write( " $\"+I+=+104.90+\"$
\n" ); document.write( "and
\n" ); document.write( " $\"+I+%2B+P+=+104.9+%2B+1295.1+\"$
\n" ); document.write( " $\"+I+%2B+P+=+1400+\"$
\n" ); document.write( "OK \n" ); document.write( "

\n" );