Question

what is the amount of money, P, that will generate $40 in interest at a 10% interest rate over 5 years

Answer 1

Answer:$60 on edge

Step-by-step explanation: i took the exam on edge

Answer 2

`\bf ~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\dotfill&40\\ P=\textit{original amount deposited}\dotfill\\ r=rate\to 10\%\to (10)/(100)\dotfill &0.10\\ t=years\dotfill &5 \end{cases} \\\\\\ 40=P(0.10)(5)\implies \cfrac{40}{(0.10)(5)}=P\implies 80=P`