Bert is planning to open a savings account that earns 1.6% simple interest yearly. He wants to earn exactly $144 in interest after 3 years. How much money should he deposit? A. $2,304 B. $300 C. $30 D.

asked Nov 19, 2020 177k views

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3 votes

Answer: $ 3,000

Explanation:

I = PTR/100

144 = P X 3 X 1.6/100

14400 = 4.8P

14400/4.8 = P

Therefore P = 3000

Estee answered Nov 23, 2020

by Estee

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