You want to put some money in a simple interest account.it pays 6% interst annually for 2 years . you would like to earn $750 in
interest. how much money do you need to put in.
PLEASE HELP ME WITH THIS~!!
1 answer:
Answer:
$6,250
Step-by-step explanation:
Use the simple interest formula and fill in the numbers you are given.
I = Prt
750 = P(.06)(2)
750/0.12 = P = 6,250 . . . . . divide by the coefficient of P
You need to put in $6,250 to earn $750 in interest.
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