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In a 7 years, you want to have $3,120 worth of remodeling done to your house bathroom. How much money should you invest now, at a simple interest rate of 8%, to have enough money for the project? (Round up to the nearest cent.) $2,000 O $2,240 O $1,120 O $112

In a 7 years, you want to have $3,120 worth of remodeling done to your house bathroom. How much money should you invest now, at a simple interest rate of 8%, to have enough money for the project? (Round up to the nearest cent.) $2,000 O $2,240 O $1,120 O $112

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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In a 7 years, you want to have $3,120 worth of remodeling done to your house bathroom. How much money should you invest now, at a simple interest rate of 8%, to have enough money for the project? (Round up to the nearest cent.) $2,000 $2,240 $1,120 $112
Transcribed Image Text:In a 7 years, you want to have $3,120 worth of remodeling done to your house bathroom. How much money should you invest now, at a simple interest rate of 8%, to have enough money for the project? (Round up to the nearest cent.) $2,000 $2,240 $1,120 $112
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