Question 596393
{{{A=P+Prt}}} Start with the <a href=http://www.mathwords.com/s/simple_interest.htm>simple interest formula</a>.



{{{2909.50=P+P*0.058*1}}} Plug in {{{A=2909.50}}}, {{{r=0.058}}} (the decimal equivalent of 5.8%), and {{{t=1}}}.



{{{2909.50=P(1+0.058*1)}}} Factor out the GCF "P" from the right side.



{{{2909.50=P(1+0.058)}}} Multiply 0.058 and 1 to get 0.058.



{{{2909.50=P(1.058)}}} Add 1 to 0.058 to get 1.058.



{{{2909.50/(1.058)=P}}} Divide both sides by 1.058 to isolate "P".



{{{P=2909.50/(1.058)}}} Rearrange the equation.



{{{P=2750}}} Divide.



So <font color="red">$2750</font> was originally invested.