SOLUTION: when invested at an annual interest rate of 7.5 an account earned $217.50 of simple interest in one year. how much money was originally invested in the account?

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Question 1114439: when invested at an annual interest rate of 7.5 an account earned $217.50 of simple interest in one year. how much money was originally invested in the account?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
when invested at an annual interest rate of 7.5 an account earned $217.50 of simple interest in one year. how much money was originally invested in the account?
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I = P*r*t
217.5 = P*0.075
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P = 217.5/0.075
P = $2900
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Cheers,
Stan H.
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