An Amount P , Invested at a Simple Interest Rate

question 45

Multiple Choice

An amount P , invested at a simple interest rate r , will grow to an amount A in t years, according to the formula A = P ( 1 + r t ) . Suppose a man invested some money at 5.9%. If after 5 years, he had $6,151.25 on deposit, what amount did he originally invest? Round your answer to the nearest integer.

• A) P = $4,900
• B) P = $4,950
• C) P = $4,750
• D) P = $4,650

---

Definitions:

Cognitive Dissonance

The psychological discomfort experienced when holding two or more conflicting cognitions (beliefs, attitudes, or values) simultaneously.

Mechanical Problems

Issues or malfunctions related to the physical or functional aspects of machinery or equipment.

Friends' Advice

Recommendations or guidance given by friends based on their personal opinions or experiences.

Gas-guzzling SUV

A sport utility vehicle (SUV) that has very low fuel efficiency, consuming large amounts of gasoline relative to its distance traveled.