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5/6 is the correct answer. Thank you so much.

by amit1sharma

Tue Aug 31, 2010 9:06 am
Forum: Problem Solving
Topic: Simple question on Interest / Principal
Replies: 3
Views: 1774

Simple question on Interest / Principal

An investment of 1 year certificate of deposit with annual rate of interest = 8% earned $ 1200 in one year. What fractional part of the interest would have to be re invested along the principal at the same rate in order to earn $ 1280 diring the second year. Please explain step by step, especially t...

by amit1sharma

Tue Aug 31, 2010 4:48 am
Forum: Problem Solving
Topic: Simple question on Interest / Principal
Replies: 3
Views: 1774