SOLUTION: Eduardo invested money in an account earning 4% simple interest. At the end of 5 years, he had a total of $14,400. How much money did he originally invest?

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: Eduardo invested money in an account earning 4% simple interest. At the end of 5 years, he had a total of $14,400. How much money did he originally invest?       Log On


   

Question 1046884: Eduardo invested money in an account earning 4% simple interest. At the end of 5 years, he had a total of $14,400. How much money did he originally invest?

Answer by jorel555(1290) About Me  (Show Source):
You can put this solution on YOUR website!
Let n be the amount of the investment. Then
5x4%=20%
.2 x n=14400
n=14400/.2=$72000. ☺☺☺☺