document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1127459>Question 1127459</A>: <I><SPAN STYLE=\"word-break: break-all;\"> After five years of earning interest at an annual rate of 3%, an investment has earned $950 in interest. To the nearest whole dollar, determine the amount of the initial investment. Show all work for full credit.<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 #743891 by </B><A HREF=/tutors/aboutme.mpl?userid=addingup><B>addingup(3677)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=addingup><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/cgi-bin/show-face.mpl?user=addingup><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=743891\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> you say \"annual rate\" and not \"compounded annually\" so I will assume you mean simple interest. If you need compound interest send me an email.<BR>\n" );
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document.write( "I = Interest<BR>\n" );
document.write( "P = Principal (the initial investment)<BR>\n" );
document.write( "r = rate of interest<BR>\n" );
document.write( "t = time<BR>\n" );
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document.write( "I = Prt<BR>\n" );
document.write( "900 = P(0.03 * 5)<BR>\n" );
document.write( "900 = P(0.15)<BR>\n" );
document.write( "P(0.15) = 900<BR>\n" );
document.write( "P = 900/0.15 = 6,000 was the initial investment </SPAN>\n" );
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