SOLUTION: After 20 years, Marcel's account earned $1200 in interest. If the interest rate (in decimal form) is 0.1, how much did Marcel initially invest?

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Question 1113484: After 20 years, Marcel's account earned $1200 in interest. If the interest rate (in decimal form) is 0.1, how much did Marcel initially invest?
Answer by solver91311(24713) About Me  (Show Source):
You can put this solution on YOUR website!

It depends -- a lot -- on whether it is simple interest or compound interest, and, if compound, how many compounding periods per year.


John

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