Answered: How much should you invest now at 3…

How much should you invest now at 3 3/4% simple annual interest in order to earn $190 interest in 5 months? State your result to the nearest penny.

Intermediate Algebra

10th Edition

ISBN:9781285195728

Author:Jerome E. Kaufmann, Karen L. Schwitters

Publisher:Jerome E. Kaufmann, Karen L. Schwitters

Chapter2: Equations, Inequalities, And Problem Solving

Section2.S: Summary

Problem 8S: What interest rate would you need to get to double an investment of 200 in eight years?

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How much should you invest now at 3 3/4% simple annual interest in order to earn $190 interest in 5 months?

State your result to the nearest penny.

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