Register
Samuel deposited money in an account that pays an annual simple interest rate of 3.5%. at the end of 5 years, samuel earns $2625.00 in interest. how much money had he deposited in the account?
36.5k views
4 votes
Samuel deposited money in an account that pays an annual simple interest rate of 3.5%. at the end of 5 years, samuel earns $2625.00 in interest. how much money had he deposited in the account?

User Rekovni
by
7.8k points

2 Answers

3 votes
P=i/rt
P=2625/0.035*5
P==15,000
User Avius
by
7.4k points
4 votes
He has deposited 1500 dollars into the account.
User Christopher Bales
by
8.2k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

8.6m questions

11.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
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?
Write words to match the expression. 24- ( 6+3)
Link Copied!