Register

How much money must Nate deposit in a savings account that pays 4% simple annual interest to earn $50 the first year?

How much money must Nate deposit in a savings account that pays 4% simple annual interest to earn $50 the first year?
61.2k views
1 vote
How much money must Nate deposit in a savings account that pays 4% simple annual interest to earn $50 the first year?

User Sharjeel
by
7.8k points

1 Answer

5 votes
Use a calculator and divide 1.04 because 4\100 = 104= 1.04x 50 but just divide it on the calculator like this→ 1.04 ÷ 50
User Tom Scogland
by
8.8k points
← Prev Question Next Question →

No related questions found

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories

Other Questions

What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Link Copied!