Karl wants to buy a $800 TV in 21 months. How much should he invest now at 20% simple interest to have the money in 21 months?
Investment = $
whatis the necessary equation?
thx
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Karl wants to buy a $800 TV in 21 months. How much should he invest now at 20% simple interest to have the money in 21 months?
Investment = $
whatis the necessary equation?
thx
(Hi)Interest= (Principal x %Rate per year x Time)/100Quote:
Originally Posted by makaveli89
Here principal is the amount invested
If your time is in months divide it by 12
Principal + interest = amount ($800)
i don't get it. can u please go more into detail.
i tried as equation: 1.2x^1.75 = 800
but it doesnt work, i guess its wrong.
800=Investment+InterestQuote:
Originally Posted by makaveli89
:D
i dont know if this makes sense. i have no clue how to solve this
1-"Money" has to be invested in the bank to get a profit at the rate of 20% annually this "Money " is called investment and the profit is called interest(Nod) and the value that you need to get is amount (800$)
2- according to your question you need to get 800$ after 21 months at the rate of interest (20% per annum)
3-The formula used here is
(Wait)Now which point you dont get? or is it the fourth option
4)All of these(Bow)
what is the final equation?
this one
http://www.mathhelpforum.com/math-he...e06e0d5c-1.gif
which is, 20 = 21*0.2*x / 12*100
????
is that correct because i think its wrong cause the result is not correct.