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March 24, 2017

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Charlie wants to buy a $900 TV in 15 months. How much should he invest now at 14% simple interest to have the money in 15 months?

  • math - ,

    Po + 0.14/yr * 1.25yr *Po = 900,
    Po + 0.175 * Po = 900,
    1.175 * Po = 900
    Po = 900/1.175 = 765.96. = Investment

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