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3 years ago

7

You opened your first savings account 3 months ago. So far, you have earned $9.90 in simple interest, at an annual interest rate

of 6%. How much money did you put in the account when you opened it? Use the formula: I = Prt.

1 answer:

LekaFEV [45]3 years ago

6 0

I=prt
9.90=p (.06)(3)
9.90=p(.18)
9.90/.18=p.18/.18
55=p

I put in $55 into the account when I opened it.

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