Login

Search the forums now!

Welcome, Guest. Please login or register.

November 01, 2025, 10:46:03 am
Pages: [1]   Go Down

Author Topic: Business Maths Question  (Read 593 times)  Share 

0 Members and 1 Guest are viewing this topic.

aspirin_ash7

  • Victorian
  • Trailblazer
  • *
  • Posts: 35
  • Respect: 0
Business Maths Question
« on: October 17, 2011, 08:16:29 pm »
0
Okay guys, well im posting another question on this.. cause i totally suck...

Over a period of five years an investment earned 1070.25 at a simple interest rate of 5.45% per annum. What was the original amount deposited?

A reply would be great with any working out to help me !

thanks in advance!!
Logged

MicroShift

  • Victorian
  • Forum Regular
  • **
  • Posts: 57
  • Respect: +30
  • School: Mordialloc College
  • School Grad Year: 2012
Re: Business Maths Question
« Reply #1 on: October 17, 2011, 09:03:00 pm »
0
I don't know LaTeX so you'll have to excuse the poor laying out.

Since I = PrT / 100, P = 100*I / rT
P = (100*1070.25) / (5.45*5)
   = 107025 / 27.25
P = $3927.52 rounded to 2 decimal places, obviously)

So initial investment was $3927.52.
Logged
ATAR: 85.55

2011: Biology [31] | English [29] | Further Maths [44]
2012: Accounting [31] | Methods [35] | Physics [29] | Specialist [27] | RMIT Comp Sci Extension [5.0]
2013: Bachelor of Science @ University of Melbourne

aspirin_ash7

  • Victorian
  • Trailblazer
  • *
  • Posts: 35
  • Respect: 0
Re: Business Maths Question
« Reply #2 on: October 17, 2011, 09:26:48 pm »
0
thanks a million! perfect 8)
Logged
Pages: [1]   Go Up