Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

simple interest: an investment earned 4% simple interest for 8 years. At its maturity it was worth $5000. what amount was invested ?

simple interest: an investment earned 4% simple interest for 8 years. At its maturity it was worth $5000. what amount was invested ?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Microfinance Handbook An Institutional And Financial Perspective

Authors: Joanna Ledgerwood

1st Edition

0821343068, 978-0821343067

More Books

Students also viewed these Finance questions

Question

Calculate Cohens d^ for the data in Exercise 14.15.

Answered: 1 week ago