Question

how much would need to be invested at 3.25% annual simple interest to amount to $6510 in 5 years?

Answer 1

I = prt
I = 6510(0.0325)(5)

Answer 2

let the amount needed be x

x + x(.0325)(5) = 6510
x( 1 + .0325)(5) = 6510
1.1625x = 6510
x = 5600

check:
interest on 5600 for 5 years at 3.25% simple interest
= 5600(.0325)(5) = 910
amount after 5 years = 5600+910 = 6510