saving bond currently worth $7600 collects 5.5% annual simple interest each year. if the bond was purchased seven yeara ago, how much was it bought for?

Answer 1

Set up equation where x=original cost,
7600=x(1+7*0.055)
Solve for x.

Answer 2

A savings bond currently worth $7600 collects 5.5% annual simple interest each year. If the bond was purchased seven years ago, how much was it bought for?

Answer 3

A savings bond currently worth $7,600 collects 5.5% annual simple interest each year. If the bond was purchased seven years ago, how much was it bought for?