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OpenStudy (anonymous):
How much money should be invested at an annual interest rate of 8% in order to earn $250 of yearly interest?
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OpenStudy (deoxna):
Well that only would apply to the first year, because after that you will have earned 250 and hence the 2% of the total wont be $250. Anyway, let's say that A represents your initial amount so: 250=A(.08) You can solve the equation to get $3125 as your initial investment.
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