24. Investment An advertisement for a bank states that vou can earn $50 interest in one year by investing in a savings account that earns 4% interest. Use the simple interest formula I = Prt, where / is the interest on an investment of P dollars at an interest rate r for t years. a. Which variable should you solve for to find the amount of money you need to invest to earn the $50 in interest? b. Solve the simple interest equation for the variable you identified in part (a). C. How much money do you need to invest?
24. Investment An advertisement for a bank states that vou can earn $50 interest in one year by investing in a savings account that earns 4% interest. Use the simple interest formula I = Prt, where / is the interest on an investment of P dollars at an interest rate r for t years. a. Which variable should you solve for to find the amount of money you need to invest to earn the $50 in interest? b. Solve the simple interest equation for the variable you identified in part (a). C. How much money do you need to invest?
Algebra: Structure And Method, Book 1
(REV)00th Edition
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Chapter12: Quadratic Functions
Section12.8: Joint And Combined Variation
Problem 10P
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