SOLUTION: Boxell Associates has $7400 invested at 5.5% simple interest. After money was withdrawn, $242 was earned for one year on the remaining funds. How much was withdrawn

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Question 875631: Boxell Associates has $7400 invested at 5.5% simple interest. After money was withdrawn, $242 was earned for one year on the remaining funds. How much was withdrawn
Answer by zahid.alhudacibe(1) About Me  (Show Source):
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Ans:
=242*100/5.5=$4400
=$7400-$4400=$3000