SOLUTION: After five years of earning interest at an annual rate of 4%, an investment has earned $1,200 in interest. Determine the amount of the initial investment. Show all work for full cr

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Question 1111429: After five years of earning interest at an annual rate of 4%, an investment has earned $1,200 in interest. Determine the amount of the initial investment. Show all work for full credit.
Answer by Alan3354(69443) About Me  (Show Source):
You can put this solution on YOUR website!
Depends on the compounding period, if any.