Asked by Suzanne

Tara's bank account contains $250.00. She made only one deposit exactly one year ago. The bank account pays a simple interest rate of 8%. How much money did Tara deposit in the account one year ago?
Answered by Ms. Sue
1.08x = 250
x = 250/1.08
x = ?
Answered by Bob
250=x-.08x

250=(1-.08)x
250/(1-.08)=x
271.73=x
Answered by Pogi
$20.00
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