10) James earned $3,000 interest on an investment that he put in the bank for 6 years with a 5% interest rate. How much was his initial deposit?

asked Jun 12, 2023 129k views

0 votes

10) James earned $3,000 interest

on an investment that he put in
the bank for 6 years with a 5%
interest rate. How much was his
initial deposit?

by JoeG

8.3k points

Please log in or register to add a comment.

3 votes

Answer:

Explanation:

assuming that he has an annual interest of 5% then his initial deposit would be rounded to $2,238.65

KeithWM answered Jun 16, 2023

8.1k points

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

9.4m questions

12.2m answers