Ben is going to an amusement park with his scout troop. He has $80 in his wallet. If admission costs $18.95, a book of ride tick
1 answer:
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Answer:
Javier's parents set aside $1500 when he was born
Step-by-step explanation:
This is a simple interest problem.
The simple interest formula is given by:
In which E is the interest earned, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.
In this question, we have that:
We have to find P. So
Javier's parents set aside $1500 when he was born