<PRE><B>Question 1010740</B>
for simple interest, the formula for future value is:


f =  p + (p * r * n)


f = future value
p = present value
r = interest rate per time period.
n = number of time periods.


in this problem:
f = 9280
p = what you want to find.
r = .16 per year
n = 1 year


the formula becomes:


9280 = p + p * .16 * 1 which becomes:


9280 = p + .16p which becomes:


9280 = 1.16 * p


divide both sides of this equation by 1.16 and solve for p to get:


p = 9280 / 1.16 = 8000


8000 was what she originally invest.


that 8000 earned .16 * 8000 = 1280 in interest.


at the end of the year, she had 8000 + 1280 = 9280.


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