Answered

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How much will you need to invest at 2.5% to have earned $900 in interest in 5 years

Sagot :

fieryanswererft

Answer:

we need $7200 to earn $900 in 5 years.

Step-by-step explanation:

Simple Interest formula: [tex]\frac{PRT}{100}[/tex] .......where p is principal, r is rate of interest, t is time

Using the formula:

[tex]\frac{p*2.5*5}{100} =900[/tex]

[tex]{p*2.5*5} =900*100[/tex]

[tex]12.5p =90000[/tex]

[tex]p = 90000/12.5[/tex]

[tex]p=7200[/tex]

cavwafair

Answer:

7200 is the principal

needed

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