SOLUTION: How much should you invest at 3.4% simple interest in order to earn $50 interest in 10 months?

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Question 1165799: How much should you invest at 3.4% simple interest in order to earn $50 interest in 10 months?
Answer by MathLover1(20849) About Me  (Show Source):
You can put this solution on YOUR website!

I assume you mean 3.4% per year

P+%2A+%280.034%2F12%29+%2A+10+=+50
solve for P
P=50%2F%28.034%2A10%2F12%29=1764.71
you should invest $1764.71