Question

How much should you invest at 2.1% simple interest in order to earn $85 interest in 7 months?​

Answer 1

$6938.78

Explanation:

Interest = Principal x Rate x Time (in years)

let 'P' = Principal

85 = P × .021 ×
`(7)/(12)`

85 = .01225P

85 / .01225 = P

6938.78 = P