How much money should you invest at 5.3% annual simple interest rate to have $7200 in 9 months?

Question

asked Sep 23, 2023 210k views

1 Answer

Defmeta · Answer 1 · 2023-09-29T15:39:45+0000

Answer:

181 132$

Explanation:

Co - initial capital
I - interest
r - 5.3% annual simple interest
t - time

I = Co * r * t
7200 = Co * 0.053 * 9/12
Co = 181 132$