Question

Sandra Leatherwood invested money received from a game show for 10 months at 9% interest.
If she received $1,687.50 interest on her investment during this time, find the amount that she invested.


$18,750

$15,625

$22,500

$13,500

Answer 1

P=i/rt
P=1687.5/(0.09*10/12)
P=22500