Register

The simple interest on a sum of money invested at 3% per annum for 2 years was $39.75. Calculate the sum of money invested

The simple interest on a sum of money invested at 3% per annum for 2 years was $39.75. Calculate the sum of money invested
asked 19.6k views
2 votes
The simple interest on a sum of money invested at 3% per annum for 2 years was $39.75.

Calculate the sum of money invested

asked
User Gogaz
by
7.4k points

1 Answer

5 votes

Answer:

$37.50

Explanation:


P+Prt=39.75 \\ \\ P+P(2)(0.03)=39.75 \\ \\ 1.06P=39.75 \\ \\ P=\$37.50

answered
User Benblo
by
8.2k points
← Prev Question Next Question →

No related questions found

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
Write words to match the expression. 24- ( 6+3)
Link Copied!