$2212.93 should be invested
Explanations:Let the amount to be invested be the principal, P.
The interest rate, r = 4.9%
r = 4.9/100
r = 0.049
Time, t = 10 months
12 months = 1 year
10 months = 10/12
t = 10/12 years
t = 0.83
The interest in the next 10 months, I = $90
Interest, I, is given by the formula:
I = P x r x t
90 = P x 0.049 x 0.83
90 = P x 0.04067
P = 90 / 0.04067
P = $2212.93
