Question

16. What capital should be invested in a business that yields 15% annual simple interest, to obtain $2,400,000 of profit in 8 semesters?

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88 Answers

1. Convert 8 semesters to years:

8 \, \text{semesters} = 4 \, \text{years}

2. Use the simple interest formula:

I = P \times r \times t

3. Substitute the given values and solve for \( P \):

2,400,000 = P \times 0.15 \times 4

4. Solve for \( P \):

P = \frac{2,400,000}{0.15 \times 4} = \$40,000,000

Therefore, the capital that should be invested is

\$40,000,000

2. Use the simple interest formula:

3. Substitute the given values and solve for \( P \):

4. Solve for \( P \):

Therefore, the capital that should be invested is

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