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Sagot :
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]
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