Question

Vanessa deposited money into a bank account that earned 1.25% simple interest each year. After 1/2 year, she had earned $5.00 in interest on the account.

If no other money was deposited into or withdrawn from the account, how much was her initial deposit?
Ms. Sue
I = PRT

5 = P * 0.0125 * 0.5

Solve for P

800 or 400
the answer is 800

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