SOLUTION: I have not done algebra related questions in over 20-years and now I am lost!! The question is:
How much would need to be invested at 3.25% annual simple interst to amount to $65
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: I have not done algebra related questions in over 20-years and now I am lost!! The question is:
How much would need to be invested at 3.25% annual simple interst to amount to $65
Log On
Question 89106This question is from textbook
: I have not done algebra related questions in over 20-years and now I am lost!! The question is:
How much would need to be invested at 3.25% annual simple interst to amount to $6510 in 5 years? This question is from textbook
You can put this solution on YOUR website! 3.25% annual simple interst to amount to $6510 in 5
Let the principal amount = P
The interest on this let it be I
Given amount A after 5 years i.e A = 6510
or P+I = 6510
But I = (PTR)/100 where P = Prinicipal,T= Time and R = Rate
So I = PTR/100
I = (Px5x3.25)/100
20I = 3.25P
4I = .65 P
4(P+I) = 4x6510
4P +4I = 4x6510
4P +.65P = 4x6510
4.65P = 4x6510
I hope you can solve from here
(