SOLUTION: How much money would I need to invest for 8years at 5 1/2 simple interest to earn k400.00?

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Question 1024474: How much money would I need to invest for 8years at 5 1/2 simple interest to earn k400.00?
Answer by JBarnum(2146) About Me  (Show Source):
You can put this solution on YOUR website!
since simple interest is not combined interest over a periods it means that x amount at 5.5% of x will equal the sum of 400. since 8years is just one period of time and not split up into yearly incriminates the 8years is not a factor.
x%2B.055x=400
1.055x=400
x=highlight_green%28379.15%29