Question

enrique earned $101.40 in interest over 6 years in a savings account that pays 1.3 % simple interest per year. how much did Enrique originally deposit?

Answer 1

Simple interest, I = 101.40
Time, t = 6 years
interest, i = 1.3%

Interest, I=Pit, rearrange
Principal, P=I/(it)=101.40/(6*0.013)=1300