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Mathematics 7 Online
OpenStudy (anonymous):

Regina Smith earned $84 in simple interest in 8 months at an annual interest rate of 3%. How much was her initial investment?

OpenStudy (agent0smith):

First get the interest percentage for the 8 months... 8 months is 8/12 of a year. So multiply the 0.03 by 8/12. Use P for her initial investment. P*(0.03*8/12) = 84 Now try to find P.

OpenStudy (anonymous):

Oh, wow. I was so wrong... I got 4200. @agent0smith

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