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OpenStudy (anonymous):
When invested at an annual interest rate of 8%, an account earned $336 of simple interest in one year. How much money was originally invested in the account?
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OpenStudy (anonymous):
ok so we have r = 8 %, t = 1 year and I = 336 and we need to find P
OpenStudy (anonymous):
we have the formula I = PRT/100 that is 336 = .08 P
OpenStudy (anonymous):
divide by .08 on both sides, we have p = 336 /.08 that is 4200
OpenStudy (anonymous):
0.08x = 336 x = 336/0.08 x= 4200$
OpenStudy (anonymous):
thank you!! @sandyjayaram @zscdragon
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OpenStudy (anonymous):
np :)
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