Question

How much money must Andrea invest for 3 years in an account that earns an annual simple interest rate of 8% if she wants to earn $750 from the investment?

Answer 1

$3 125.00

Explanation:

SI= PTR/100

Simple Interest=Principal*Time*Rate/100

750= P*3*8/100

750*100/3*8=P

P= $3 125.00