Asked by Garnett

If you earned $2,000 interest for 2 years at 7%, how much money did you originally invest?

Thanks.
Answered by Ms. Sue
I = prt

2000 = p * 0.07 * 2

Solve for p.

Answered by Garnett
1 = prt

2000 = p* 0.07 * 2

2000/2 = p * 0.07 * 2/2

1000 = p * 0.07

1000/0.07 = p * 0.07/0.07

14,285.71 = P


Answered by Ms. Sue
Right!

Answered by Garnett
Thanks greatly, Ms. Sue, for your help tonight. Will be getting back on tomorrow evening. Good night.

Garnett
Answered by Ms. Sue
You're very welcome, Garnett. See you tomorrow.
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