2. What amount of money must Kurt Blixen invest at 4.75% to have it earn $10,000 in 90 days?

Kurt Blixen must invest $85,2296.94.

Given the following data;

Interest rate = 4.75%Simple interest = $10,000Time = 90 days

To find how much money Kurt Blixen must invest;

Mathematically, simple interest is given by the formula;

Where:

S.I is the simple interest.P is the principal amount.R is the interest rate.T is the time measured in years.

First of all, we would convert the time in days to years.

Conversion:

365 days = 1 year

90 days = x year

Cross-multiplying, we have;

x = 0.247 year

Making P the subject of formula;

Substituting the values into the formula, we have;

P = $85,2296.94

Therefore, Kurt Blixen must invest $85,2296.94.

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The correct answer is: 2

Idk what the answer is bc i don't get it