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Greg earned $340 interest after 5 years at an interest rate of 7%. What was in initial investment?

Greg earned $340 interest after 5 years at an interest rate of 7%. What was in initial investment?
asked 39.7k views
16 votes
Greg earned $340 interest after 5 years at an interest rate of 7%. What was in initial investment?

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User Pauan
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7.9k points

2 Answers

6 votes
The correct answe is 97.14
answered
User Jlengrand
by
9.3k points
12 votes

7x14=98

340x14=4760

4760 is 98% of his initial investment

48.57 is 1% x 2 is 2%

the answer is 97.14

answered
User Ronald Randon
by
8.1k points
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