joey made an deposit into an account that earns 6% simple interest. after 3 years joey had earned 400$. how much was joey's init

Question

Advocard [28]

3 years ago

5

joey made an deposit into an account that earns 6% simple interest. after 3 years joey had earned 400$. how much was joey's init

ial deposit ?

Mathematics

1 answer:

Brums [2.3K] · Answer 1 · 2022-08-03T13:34:09+03:00

Brums [2.3K]3 years ago

7 0

I= prt
I=$400 (0.06) (3)
I= 72
The 6% was changed into a decimal (0.06)
So I multiplied 400 x 0.06 x 3
The 400 would be the principal amount the 6% would be the rate and the 3 would be the time