SOLUTION: Mark invested his money for 3 years at 3% and earned $2285.64 in interest. How much money did he invest if the interest was calculated using the simple interest formula? Use th

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Question 906236: Mark invested his money for 3 years at 3% and earned $2285.64 in interest. How much money did he invest if the interest was calculated using the simple interest formula?
Use the formula P=frac(I,r×t)

Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
$2285.64 = P(.03)3
$2285.64/.09 = P