An investment yields an interest payment of $225 each month. If the simple annual interest rate is 9%, what is the amount of the investment?
Pick
A) $30,000	B) $30,400	C) $31,300	D) $32,500	E) $35,100
Let the principal amount = P   Simple annual interest = 9%   Simple monthly interest = (9/12) = (3/4)%   (3/4)*(P/100) = 225   =&gt;P = (225 *4 * 10^2 )/3   = 75*4*10^2   = 300 * 10^2=30000   $30,000nswer $30,000
<result>A</result>
An investment yields an interest payment of $225 each month. If the simple annual interest rate is 9%, what is the amount of the investment?