How much money should you invest at 5.3% annual simple interest rate to have $7200 in 9 months?

Shawn Azdam asked Oct 21, 2023

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33 votes

Shawn Azdam asked Oct 21, 2023

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16 votes

Answer:

181 132$

Explanation:

Co - initial capital
I - interest
r - 5.3% annual simple interest
t - time

I = Co * r * t
7200 = Co * 0.053 * 9/12
Co = 181 132$

Yilmaz answered Oct 27, 2023

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