Two years and nine months after investing money, a retired couple received a check amounting to P 30 827.50 in simple interest. Find the amount of money they invest if they are given 5.9% annual rate. P

Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter3: Math Models
Section: Chapter Questions
Problem 430PT: Melinda deposited $5,985 in a bank account with an interest rate of 1.9%. How much interest was...
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Business Finance,thank you.

31.
Two years and nine months after investing money, a
retired couple received a check amounting to P 30
827.50 in simple interest. Find the amount of money they
invest if they are given 5.9% annual rate.
Transcribed Image Text:31. Two years and nine months after investing money, a retired couple received a check amounting to P 30 827.50 in simple interest. Find the amount of money they invest if they are given 5.9% annual rate.
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