How much should you invest at 3% simple interest in order to earn $95 interest in 8 months?

Answer 1

I = PRT

95 = P * 0.03 * 0.66667

95 = 0.002P

47,500 = P

Answer 2

How much should you invest at 3.7% simple interest in order to earn $95 interest in 3 months?