SOLUTION: Please help me with this problem What amount of money must be invested in a 75 day CD paying 5.2% simple interest in order to earn $40?

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Please help me with this problem What amount of money must be invested in a 75 day CD paying 5.2% simple interest in order to earn $40?      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 1067852: Please help me with this problem
What amount of money must be invested in a 75 day CD paying 5.2% simple interest in order to earn $40?
Answer by ankor@dixie-net.com(22740) About Me  (Show Source):
You can put this solution on YOUR website!
What amount of money must be invested in a 75 day CD paying 5.2% simple interest in order to earn $40?
:
75%2F365*.052*A = 40
.010685A = 40
A = 40%2F.010685
A = $3743.57