Question

Kaleb makes an investment at 5.2 percent simple interest. At the end of 1 year, the total value of the investment is $2419.60. How much was originally invested?

Answer 1

`\bf \qquad \textit{Simple Interest Earned Amount}\\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\to &\$2419.60\\ P=\textit{original amount deposited}\\ r=rate\to 5.2\%\to (5.2)/(100)\to &0.052\\ t=years\to &1 \end{cases} \\\\\\ 2419.60=P(1+0.052\cdot 1)`

solve for P