Question 184 • 26-27 Ignite Technical Math-Financial Math - MA2007
For simple interest, use I = Prt. June needs an initial investment of $6,500 ÷ (0.026 × 11) ≈ $22,727 to earn $6,500. Subtract the $17,801 she already invested: $22,727 − $17,801 ≈ $4,926. The correct choice is $4,926.
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