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Peter's simple annual interest account currently has $1128.50. He remembers that he originally placed $925 at a rate of 5.5%. How many years ago did Peter place money into his account?
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Peter's simple annual interest account currently has $1128.50. He remembers that he originally placed $925 at a rate of 5.5%. How many years ago did Peter place money into his account?

User Barry Chum
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2 Answers

3 votes
x = the number of years

1128.50 = 925 + 5.5x

1128.50 - 925 = 925 + 5.5x - 925 (subtraction property of equality)

203.5 = 5.5x

203.5/5.5 = 5.5x/5.5

x = 37 years ago
User LiverpoolOwen
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6.7k points
7 votes

Answer:

h

Explanation:

User Regressor
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7.3k points
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