The simple interest on a sum of money invested at 3% per annum for 2 years was $39.75. Calculate the sum of money invested

asked Apr 2, 2024 19.6k views

2 votes

The simple interest on a sum of money invested at 3% per annum for 2 years was $39.75.

Calculate the sum of money invested

by Gogaz

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5 votes

Answer:

$37.50

Explanation:

$P+Prt=39.75 \\ \\ P+P(2)(0.03)=39.75 \\ \\ 1.06P=39.75 \\ \\ P=\$37.50$

Benblo answered Apr 8, 2024

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