Problema Solution
kevin invested money in a savings account at a rate of 5% simple interest. After one year, he has $3717.0 in the account. How much did Kevin originally invest?
Answer provided by our tutors
I=Pnr.
P+Pnr=3717.
P(1+0.05*1)=3717.
P=3717/1.05
=$3540.