SOLUTION: If Sheila wants to earn 12% annual simple interest on an investment, how much should she invest so that its value is worth $23000 in 16 months

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Question 983389: If Sheila wants to earn 12% annual simple interest on an investment, how much should she invest so that its value is worth $23000 in 16 months
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
23000/16*12=17250 one yr
17250/1.12=15402.00