Asked by melanie
Bert is planning to open a savings account that earns 1.6% simple interest yearly. He wants to earn exactly $240 in interest after 3 years. How much money should he deposit?
Answers
Answered by
Ms. Sue
240/3 = 80
0.016x = 80
x = 5,000
0.016x = 80
x = 5,000
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