Red Winowski invested money for five years because he was guaranteed that he would earn 12% ordinary simple interest (360-day year) per year. At the end of five years, he received all of his original investment plus an additional $1,500 as the interest that he had earned. How much money had Red invested five years earlier?

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The Answer of Red Winowski invested money for five years because he was guaranteed that he would earn 12% ordinary simple interest (360-day year) per year. At the end of five years, he received all of his original investment plus an additional $1,500 as the interest that he had earned. How much money had Red invested five years earlier?

Red Winowski Invested Money for Five Years Because He Was