SOLUTION: an investment pays 8%interest per year. of the investment earned $84 in interest in the first year , then how much money was originally invested
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Question 1034931: an investment pays 8%interest per year. of the investment earned $84 in interest in the first year , then how much money was originally invested Answer by fractalier(6550) (Show Source):
You can put this solution on YOUR website! You do not say, so I will assume it is simple interest...the formula for which is
I = Prt
We are looking for P, the principal...
P = I/rt = 84/(.08*1) = $1050
