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OpenStudy (anonymous):
Help!! medal and fan! Kate earned $1800 in 8 years on an investment at a 5% annual simple interest rate. How much did Kate invest?
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OpenStudy (campbell_st):
the simple interest formula is \[I = \frac{Prt}{100}\] so substitute what you know \[1800 = \frac{P \times 5 \times 8}{100}\] now just solve for P
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