Asked by lui

If you earned $2,000 interest for 2 years at 7%, how much money did you originally invest?
Answered by oobleck
if simple interest, then
P*0.07 * 2 = 2000
P = 14,285.71

If compound interest, then
P(1.07^2 - 1) = 2000
P = 13,802.62