Charlie wants to buy a $900 TV in 15 months. How much should he invest now at 14% simple interest to have the money in 15 months?

Answer 1

Po + 0.14/yr * 1.25yr *Po = 900,
Po + 0.175 * Po = 900,
1.175 * Po = 900
Po = 900/1.175 = 765.96. = Investment