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24 November, 05:41

After five years of earning interest at an annual rate of 4%, an investment has earned $1,200 in interest. Determine the amount of the initial investment. Show all work for full credit.

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  1. 24 November, 08:18
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    1 years = 4% then 5 years would be 20%

    5 years earned 20% that means $1200

    the amount of the initial investment would be 100% so just take 1200*5 and you will have the initial investment
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