SOLUTION: the future value of a simple interest investment is given by S = P(1+rt). What principal P must be invested for t=5years at the simple interest rate r=10% so that the future value

Algebra ->  Finance -> SOLUTION: the future value of a simple interest investment is given by S = P(1+rt). What principal P must be invested for t=5years at the simple interest rate r=10% so that the future value      Log On


   

Question 343481: the future value of a simple interest investment is given by S = P(1+rt). What principal P must be invested for t=5years at the simple interest rate r=10% so that the future value grows to $9000?
Answer by solver91311(24713) About Me  (Show Source):
You can put this solution on YOUR website!


Re-arrange your formula to solve for P:



Now just plug in your numbers and do the arithmetic.

John

My calculator said it, I believe it, that settles it