Asked by FRANCIS VENTURA on May 01, 2024
Verified
Sam earned $650 on an investment deposited at an interest rate of 3.25% for 30 months. How much was the original investment?
Original Investment
The initial amount of money invested in a financial venture or asset.
Interest Rate
The specific rate at which interest is incurred on borrowed cash from a lender to a borrower.
Investment Deposited
The action of placing money into a financial scheme, shares, or property with the expectation of achieving a profit.
- Calculate original investment amounts based on interest earned and investment duration.
Verified Answer
KS
Learning Objectives
- Calculate original investment amounts based on interest earned and investment duration.