Answer to Question #84736 in Financial Math for Tasha

Question #84736

How much should you invest at 4.5% simple interest in order to earn $75 interest in 11 months?

Expert's answer

The sum you should invest at 4.5% simple interest in order to earn $75 interest in 11 months is

S = $75/(0.045*11/12) = $1818.18.

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