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inysia [295]
3 years ago
8

Samson opened a bank account with 1.25% simple interest. The total amount of interest Samson will earn after 20 years is $812.50

.
How much did Samson deposit when he opened the account?
Mathematics
2 answers:
Over [174]3 years ago
7 0
The equation for simple interest is:
Future interest = Principal*(interest rate*number of years). Remember to write the interest rate of 1.25% as 0.0125 (rather than directly as 1.25)
812.50 = x(0.0125*20)
812.5 = x(0.25)
x = $3250
This means that Samson deposited $3250 when he opened the account.
Novosadov [1.4K]3 years ago
7 0

Answer:

$203.12

Step-by-step explanation:

I hope this is correct, please check out my question, I'm struggling. :/

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