SOLUTION: khalid makes an investment at 4% simple interest. At the end of the 1 yr, the total value of the investment is $1560. How much was originally invested?

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: khalid makes an investment at 4% simple interest. At the end of the 1 yr, the total value of the investment is $1560. How much was originally invested?      Log On


   

Question 352041: khalid makes an investment at 4% simple interest. At the end of the 1 yr, the total value of the investment is $1560. How much was originally invested?
Answer by Fombitz(32388) About Me  (Show Source):
You can put this solution on YOUR website!
F=P%2BI=P%2BPrT=P%281%2BrT%29
1560=P%281%2B0.04%29
P=1560%2F1.04
P=1500
$1500 was originally invested.