Question 454686: an investment of 800 earns 190 each year. at the same rate, how much additional money must be invested to earn a total of 475? Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! an investment of 800 earns 190 each year. at the same rate, how much additional money must be invested to earn a total of 475?
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I = Prt
Solve: 190 = 800*r*1
r = 190/800 = 0.2375
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Solve: 475 = P(0.2375)
P = 475/0.2375 = $2000
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Addition money = 2000-800 = $1200
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Cheers,
Stan H.
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