rikamen187
Answered

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What sum of money, invested at 9%
interest per year, is needed to provide an
income of $45 per year?

Sagot :

Answer:

$500

Step-by-step explanation:

Intrest = P. A * Intrest Rate * Time

Time = 1 year, Intrest Rate = 9%, P. A. is what we need to find, Intrest is 45

45=x*9/100*1, x=500

wegnerkolmp2741o

Answer:

500

Step-by-step explanation:

I = PRT  where I is the interest, P is the amount invested, R is the rate and T is the time

We want 1 year at 9% to get 45 dollars in interest

45 = P ( .09) (1)

45 = .09P

Divide each side by .09

45/ .09 = P

500 =P

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