Page Chavez
06/04/2023 · Middle School
b. If Mr Smith would like to earn \( \$ 4000 \) interest in 18 months with Bank B. How much does he need to invest initially with Bank B?
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To calculate the initial investment needed to earn $4000 in interest over 18 months with Bank B, use the formula \( P = \frac{4000}{r \times 1.5} \), where \( P \) is the principal amount and \( r \) is the annual interest rate in decimal.
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