Problema Solution
katerina Lobov inherited some money and invested it at 6% simple interest. At the end of the year, the total amount of her original principal and the interest was $12,720. how much did she originally invest?
Answer provided by our tutors
Let the amount she invested be x.
6% interest is represented by .06.
So x + .06x=12720 (the original amount + 6% of it=$12,720)
Combine like terms: 1.06x=12720
Divide by 1.06: x=12000
Therefore, she originally invested $12,000.