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Zolol [24]
2 years ago
9

Howard earned $48 in interest after saving for 3 years at a simple annual interest rate of 2%. How much did Howard originally de

posit?
Mathematics
2 answers:
vitfil [10]2 years ago
6 0
P=i/rt
P=48÷(0.02×3)
P=800
vovikov84 [41]2 years ago
3 0

Answer:

Howard originally deposited $800.

Step-by-step explanation:

Interest = $48

t = 3 years

r = 2% or 0.02

p = ?

Simple interest formula is :

I=p\times r\times t

Substituting the values in formula, we get;

48=p\times0.02\times3

=> 48=0.06p

p = $800

Hence, Howard originally deposited $800.

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