Eloise invested at 3.5% pa simple interest over 4 years. If her total interest is $910, how much did she originally invest?

Question

Eloise invested at 3.5% pa simple interest over 4 years. If her total interest is $910, how much did she originally invest?

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Josephine 1 month 2021-12-26T08:58:32+00:00 1 Answer 0 views 0

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    2021-12-26T09:00:08+00:00

    Answer:

    $798.25

    Step-by-step explanation:

    For this problem, we will use a modified version of the simple interest formula:

    P=\frac{A}{(1+rt)}

    A = total amount

    r = interest rate (decimal)

    t = time

    First, change 3.5% into a decimal:

    3.5% -> \frac{3.5}{100} -> 0.035

    Now, lets plug the values into the equation:

    P=\frac{910}{(1+(0.035)(4))}

    P=798.25

    Eloise originally invested $798.25

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45:7+7-4:2-5:5*4+35:2 =? ( )