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Hannah earned $1536 in 8 years on an investment at a 4% annual simple interest rate. How much was Hannah’s investment?

Hannah earned $1536 in 8 years on an investment at a 4% annual simple interest rate. How much was Hannah’s investment?
asked 137k views
3 votes
Hannah earned $1536 in 8 years on an investment at a 4% annual simple interest rate. How much was Hannah’s investment?

asked
User Intl
by
8.1k points

2 Answers

5 votes
1536 divided by 1.04^8 = 1122.34
answered
User Seorphates
by
8.2k points
7 votes

$491.52 is the answer


answered
User Katalina
by
8.9k points
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