SOLUTION: If at the end of 13 years, I have $836 in my account after investing it at 3.11% per year, how much money did I invest?

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Question 700193: If at the end of 13 years, I have $836 in my account after investing it at 3.11% per year, how much money did I invest?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
If at the end of 13 years, I have $836 in my account after investing it at 3.11% per year, how much money did I invest?
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Simple interest problem:
A(t) = P(1 + rt)
836 = P(1 + 0.0311*3)
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836 = P(1.0933)
Principal = 836/1.0933 = $764.66
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Cheers,
Stan H.
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