Problema Solution
Eduardo invested money in an account earning 4% simple interest. At the end of 5 years, he had a total of $14,400. How much money did he originally invest?
Answer provided by our tutors
so A = Pe^rt
r = interest, t = time
14400 = pe^(0.04*5)
14400 = Pe^(0.2)
P is approximately 11 789.72 answer