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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?
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5 votes
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?

User Marthym
by
7.8k points

1 Answer

4 votes

Answer:

$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

User Chandraprakash
by
8.4k points
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