<PRE><B>Question 1111419</B>
Determine the amount that has to be invested now, to be worth R10 000 in 8 months’ time, if the annual
 simple interest rate is 9,75%. 
 formula P = I/RT
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8 months = 2/3 years
9.75%/yr --&gt; 0.0975
AMT = starting amount
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Interest = AMT*(2/3)*0.0975 = AMT*0.065
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AMT + AMT*0.065 = 10000
AMT = 10000/(1.065)
AMT = 9389.67

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