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Serjik [45]
3 years ago
9

Samson opened a bank account with 1.25% simple interest. The total amount of interest Samson will earn after 20 years is $812.50

. How much did Samson deposit when he opened the accoun
Mathematics
1 answer:
IRINA_888 [86]3 years ago
7 0
<h2>$650</h2>

Step-by-step explanation:

       The principal amount recieves a simple interest every year. The simple interest rate is given as 1.25\%.

       It is given that the total amount after 20  years is $812.50

       Total=Principal+Interest\textrm{ = }P+P\times i\times T

Here P is the principal amount, i is the interest rate, T is the time period.

       812.50=P+P\times (1.25\times \frac{1}{100})\times 20yr=P\times 1.25\\P=650\$

∴ Samson had $650 when he opened the account.

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