Donnelly Wells
08/18/2023 · Senior High 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 for a $4000 interest over 18 months, use the formula \( P = \frac{4000}{r \times 1.5} \), where \( r \) is the annual interest rate.

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