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17 December, 17:10

Kate earned $1800 in 8 years on an investment at a 5% annual simple interest rate. how much did kate invest?

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  1. 17 December, 18:40
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    P x 8 x 0.05 = 1800

    0.4P = 1800

    P = 1800 / 0.4

    P = 4500

    answer: Kate invested $4,500
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