Sam is learning the ancient art of kite making. He has determined that his first kite will have diagonals of 24 inches and 25 in
2 answers:
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Answer:
Sarah has to invest $502,958.58 today.
Step-by-step explanation:
This is a simple interest problem.
The simple interest formula is given by:
In which E is the amount of interest earned, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.
After t years, the total amount of money is:
In this question:
She has to invest P today.
So
Sarah has to invest $502,958.58 today.