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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- Jan 27th 2009, 08:54 PMmakaveli89Investment rate
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 - Jan 27th 2009, 09:37 PMADARSH
- Jan 28th 2009, 08:52 AMmakaveli89
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. - Jan 29th 2009, 03:14 AMADARSHI think this might be helpful.........
- Jan 30th 2009, 08:51 PMmakaveli89
i dont know if this makes sense. i have no clue how to solve this

- Jan 30th 2009, 09:25 PMADARSH
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

$\displaystyle Interest=\frac{Investment*Months*\text {Rate of interest}}{12*100}$

$\displaystyle Amount= Investment+Interest$

**(Wait)Now which point you dont get? or is it the fourth option**

4)All of these(Bow) - Jan 31st 2009, 09:44 AMmakaveli89
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.