after five years of earning interest at an annual rate of 4% and investment has earned $1,200 in interest determine the amount of initial investment show all work for full credit

My account
Edit my Profile
Private messages
My favorites

Ask a Question
Questions
Unanswered
Tags
Categories
Ask a Question

asked Aug 1, 2020 186k views

4 votes

after five years of earning interest at an annual rate of 4% and investment has earned $1,200 in interest determine the amount of initial investment show all work for full credit

Mathematics
middle-school

Canerkaseler asked

by Canerkaseler

8.3k points

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

3 votes

Answer:

$6000

Explanation:

$1200/5years =$240/1yr

$240=4%

:. 1%=$60

Initial investment =$60*100%=$6000

Mfreiholz answered Aug 7, 2020

by Mfreiholz

7.7k points

0 Comments

Please log in or register to add a comment.

← Prev Question Next Question →

No related questions found

Ask a Question

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

0 Comments

Please log in or register to add a comment.

No related questions found

Other Questions