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Mike has a "high-interest" savings account that pays 5.3 percent (a simple interest account). If he earned $655 in interest after six years, how much did he invest into this account?
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Mike has a "high-interest" savings account that pays 5.3 percent (a simple interest account). If he earned $655 in interest after six years, how much did he invest into this account?

User Sadraque Santos
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1 Answer

4 votes
P=i/rt
P=655÷(0.053×6)
P=2,059.75
User Sihil
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