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3 years ago

9

Bert is planning to open a savings account that earns 1.6% simple interest yearly. He wants to earn exactly $144 in interest aft

er 3 years. How much money should he deposit?
A.
$2,304
B.
$300
C.
$30
D.
$3,000

1 answer:

Nina [5.8K]3 years ago

5 0

Answer: $ 3,000

Step-by-step explanation:

I = PTR/100

144 = P X 3 X 1.6/100

14400 = 4.8P

14400/4.8 = P

Therefore P = 3000

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