Safiya deposited money into a bank account that earned 6.5% simple interest each year. After 312 years, she had earned $36.40 in
interest on the account.
If no other money was deposited into or withdrawn from the account, how much was her initial deposit?
2 answers:
Answer:
$1.80
Step-by-step explanation:
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Answer:
$1.80
Step-by-step explanation:
Use formula

where I is interest, P is total principal, i is rate of interest per year (as decimal) and t is total time in years.
In your case,
I=$36.45, t=312, i=0.065, then

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