Rebecca Wright earned $115 in simple interest for 8 months at an annual interest rate of 5%. How much money did she invest?

Question

asked Feb 20, 2023 205k views

1 Answer

MrPink · Answer 1 · 2023-02-24T02:35:40+0000

Answer:

The answer is 3450

Explanation:

I=Prt

P=??

I=115

r=5%

t=8 months which is two thirds of a year

115=P×5%×2/3

115=1/30P

P=3450