SOLUTION: If an investment at 7% simple interest has a future value of $6031 in 9 years, what was the original investment ?
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Question 1146041
:
If an investment at 7% simple interest has a future value of $6031 in 9 years, what was the original investment ?
Answer by
greenestamps(13198)
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interest = principal * rate * time
future value is principal + interest
We know rate and time; the principal is the unknown x:
You can do the calculation....