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Umnica [9.8K]
3 years ago
9

Jeremy deposited money into a savings account that pays a simple annual interest rate of 1.6%. He earned $55.04 in interest afte

r 4 years. How much did he deposit ?
A. $860
B. $1376
C. $2976
D. $3440
Mathematics
1 answer:
amm18123 years ago
7 0
Answer: A
Calculation
(4)*(0.016) = 4 years of interest = 0.064
$55.04 / 0.064 = $860
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