TPowers73
2 Answers
Bob/PKB
$1,428,000 is the answer I came up with.
I divided the $11,900 by 50 to determine how much was earned per day. $238.
I multiplied that by 360 to determine how much interest would be earned in one year. $85,680
I then divided that answer by .06 (6%) to find the principal amount invested. $1,428,000.
Reversing the process: $1,428,000 X 6% DIVIDED BY 360 X 50
| 11 years ago. Rating: 1 | |
I'm real sure this is the answer I came up with. Whether it is correct for the question or not, I'm not positive.
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