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Mathematics 16 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 (anonymous):

84 = P * 0.03 * (2/3) Solve for P The 2/3 comes from the fact that 8 months is 2/3 of 1 year.

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