Ralph invested in a mutual fund and at the end of 20 years he has $14,300 in his account. if the mutual fund returned an average yield of 8%, how much did he originally invest?

Step-by-step explanation:

we know that

The simple interest formula is equal to

where

A is the Final Investment Value

P is the Principal amount of money to be invested

r is the rate of interest  

t is Number of Time Periods

in this problem we have

substitute in the formula above

answer: a

step-by-step explanation:

56.6

step-by-step explanation:

the ratio of the perimeters is equal to the scale.

the ratio of the areas is equal to the square of the scale.

34 / 20 = k

a / 19.6 = k²

substituting:

a / 19.6 = (34 / 20)²

a = 19.6 (34 / 20)²

a ≈ 56.6