Originally Posted by
rainbowserpent hello everyone. i hope this isn't too stupid a question or i didn't post it in the wrong section, i believe this is the right one based on the description.
anyway, i am studying for a placement test and my math skills are pretty atrocious. on a study guide i am using i have come across an interest problem and i can't figure out how exactly to solve it.
it's a word problem:
Enrique put his money in the credit union for one year. His money earned 8% simple interest and at the end of the year his account was worth $1350. How much was originally invested?
now here is where i will look truly pathetic. in the answer section of the study guide it gives me not only the answer to the problem but the equation used to solve it:
$1250; x + 0. 08x = 1350
the thing is, when i look at the equation x + .08x = 1350, i can't figure out how to solve it. i think it is the decimal that is throwing me off. i would appreciate if someone could break down exactly how to work a problem like this out on paper without using a calculator.