if you put money into a savings account that earns $84.00 over seven years at a rte of 3%, how much money did you put into the a
ccount?
1 answer:
Answer:
Step-by-step explanation:
To solve this, we would use the formula for calculating simple interest which is:
Interest = PRT
Then, we will slot in the values given which will be:
84 = P × 3% × 7
84 = P × 0.03 × 7
84 = 0.21P
P = 84/0.21
P = $400
The Principal is $400
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