Answer:it is confusing
Step-by-step explanation:
The anser is 11 you can see
Answer: Mr Drysdale deposited 14,500
Step-by-step explanation:
Using the simple Interest formula
Simple Interest = Principal(Initial Money) * Interest Rate * Time Period
I = P*R*T
I = PRT
To get P which is the initial money he deposited, we divide both sides by RT
I/RT = PRT/RT
I/RT = P
Therefore the money deposited
P = I/RT
Interest (I)= 906.25
Interest Rate (R)= 6.25% = { converting percentage to decimal} (6.25/100)= 0.0625
Time Period (T) = 1 year
Principal (P)= ?
P= I/RT
P= 906.25/(0.0625 * 1)
P= 906.25/0.0625
P= 1450
The money he deposited in his local bank is 14,500
