SOLUTION: How much money should be invested in an annual interest rate of 8% in order to earn $250 of yearly interest? Thanks you very much
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Question 40346
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How much money should be invested in an annual interest rate of 8% in order to earn $250 of yearly interest?
Thanks you very much
Answer by
Nate(3500)
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I = PRT
250 = P*0.08*1
250/0.08 = P
3125 = P