SOLUTION: If the yearly income from an investment is $35 and the annual interest rate is 5%, then the original investement is 1)$70 2)$350 3)$700 4)$175

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Question 198024: If the yearly income from an investment is $35 and the annual interest rate is 5%, then the original investement is
1)$70
2)$350
3)$700
4)$175
Answer by jojo14344(1513) About Me  (Show Source):
You can put this solution on YOUR website!


Simple Interest: I = PRT

As per given, wheresystem%28I=35%2CP=P%2CR=0.05%2CT=1yr%29

Then,
35=P%280.05%29%281%29
P=35%2F0.05
red%28P=700%29, Answer (3)

Thank you,
Jojo