Question

Please help, I don't understand any of this...

An investment that yielded 5% simple interest came due at the end of the year. Dominic received a check for the total amount (interest plus principle) of 136.5

What was his original investment?

Answer 1

@welshfella can you help me?

Answer 2

or know anyone who can?

Answer 3

Let the principal be x

Amount at the end of 1 year = x+ 5% of x

5% as a decimal is 0.05

so plugging in the given values

136.5 = x + 0.05x

136.5 = 1.05x

can you find the value of x?

Answer 4

you need to solve that equation for x.

Answer 5

Thank you