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How much money should be invested at an annual interest rate of 8 percent in order to earn 250 dollars of yearly interest?
Updated: 9/27/2022
Wiki User
∙ 14y agoBest Answer
To find 8% of an amount we multiply by 0.08
So we have an amount $x:
$x x 0.08 = $250
Rearranging gives
$x = 250/1.08 = $3125
Wiki User
∙ 14y agoThis answer is:
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What is the future value for 10000 invested for 5 years with an annual interest rate of 8 percent?
$14,693.28
How much money should be invested at an annual interest rate of 8 percent in order to earn 250 of yearly interest?
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How long will it take to earn 252 in interest if 1200 is invested at 7 percent annual interest rate?
d 2.5 years
How much money should be invested at an annual rate of 12 percent in order to earn 300 interest in year?
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When invested at an annual interest rate of 8 percent an account earned 336 of simple interest in one year How much money was originally invested in the account?
Let P be the amount of invested money. Then, .08P = 336 P = 336/.08 = 4,200
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