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3 January, 15:23

june has a savings account with an annual simple intrest rate of 2.6% she hopes to gain $6,500. in interest over a period of eleven years how much money should June invest

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  1. 3 January, 15:31
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    To solve this, let's use the variable 'x' to represent the money invested:

    11 (0.026 (x)) = 6500

    0.286x = 6500

    Divide:

    x = 227272.7272 ...

    We can round up:

    x = 227272.73

    June has to invest $227272.73
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