# Trevor has an investment worth $6,774.50. He made his only deposit in it 22 years ago. Given that the investment yields 2.7% simple interest annually,

###### Question:

## Answers

4,250.00

Step-by-step explanation:

Brainliest?

Given : Trevor has an investment worth $6,774.50. He made his only deposit in it 22 years ago. investment yields 2.7% simple interest annually,

To Find : how big was the initial deposit

Solution:

Let say investment in initial deposit = P $

Rate of interest R = 2.7 % annually

Time = 22 Years

Simple interest = SI

SI = P * R & T /100

=> SI = P * 2.7 * 22 /100

=> SI = 0.594P $

Investment worth = P + SI

= P + 0.594P

= 1.594P $

1.594P = 6774.50

=> P = 4250 $

initial deposit = 4250 $

Learn More:

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First, converting R percent to r a decimal

r = R/100 = 2.7%/100 = 0.027 per year.Solving our equation:

P = 6774.5 / ( 1 + (0.027 × 22)) = 4250P = $4,250.00The principal investment required to get a total amount, principal plus interest, of $6,774.50 from simple interest at a rate of 2.7% per year for 22 years is $4,250.00I do exams and quizzes if your interested!The answer is C $4,250.00 i took the test

Step-by-step explanation:

[tex]4,250.00" />

Step-by-step explanation:

Formula of simple interest:

[tex]I = P * R * T[/tex] & [tex]A = P + I[/tex]

Since A is equal to the final investment value, we can replace it with 6,774.50

[tex]6,774.50 = P + I[/tex]

R is rate, so change the 2.7% into a decimal = 0.027

T is time, so substitute = 22 years

[tex]6,774.50 = P * 0.027 * 22[tex] [tex]6,774.50 = P * 0.594[/tex]

[tex]6,774.50 = P[/tex]

[tex]1.594: 6,744.50[/tex]

[tex]P = 4,250.00[/tex]

First, converting R percent to r a decimal

r = R/100 = 2.7%/100 = 0.027 per year.Solving our equation:

P = 6774.5 / ( 1 + (0.027 × 22)) = 4250P = $4,250.00The principal investment required to get a total amount, principal plus interest, of $6,774.50 from simple interest at a rate of 2.7% per year for 22 years is $4,250.00I do exams and quizzes if your interested!Given : Trevor has an investment worth $6,774.50. He made his only deposit in it 22 years ago. investment yields 2.7% simple interest annually,

To Find : how big was the initial deposit

Solution:

Let say investment in initial deposit = P $

Rate of interest R = 2.7 % annually

Time = 22 Years

Simple interest = SI

SI = P * R & T /100

=> SI = P * 2.7 * 22 /100

=> SI = 0.594P $

Investment worth = P + SI

= P + 0.594P

= 1.594P $

1.594P = 6774.50

=> P = 4250 $

initial deposit = 4250 $

Learn More:

1. Find the difference between CI and SI on 5000 for 1 year at 2% pa

A sum of money doubles itself in 12 years. Find the rate of S.I ...

if the interest of ₹ 292 in 1 day be 1 paise, then let us write by ...

Its D i just took the test

simple interest =principal *rate *time over 100

6774.50*2.7/100*22=4024.03

My initial answer was $2750.45, and I will show you my calculations.

Calc : 6774.5 ÷ 100 = 67.745

67.745 × 2.7 = 182.9115

182.9115 × 22 = 4024.053

6774.5 - 4024.053 = 2750.45

= $2750.45

At first I thought this was correct, but after studying my answer I realise that the amount of interest would rise as the amount of money went up, therefore my calculations are very wrong. If I work out the answer, I will get back to you, but the calculation is more complicated than I first predicted

The answer should be 3%

C. i possibility the answer to this