SOLUTION: you earn $85 on an investment that pays 7% for 18 months. How much did you invest ?

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Question 454395: you earn $85 on an investment that pays 7% for 18 months. How much did you invest ?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
you earn $85 on an investment that pays 7% for 18 months. How much did you invest ?
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I = Prt
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P = I/(rt)
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P = 85/(0.07*1.5)
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P = $809.52 (amount invested)
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Cheers,
Stan H.