Ringo deposited some money into a savings account. He earned 4% interest. After 6 months he earned $21 in interest. How much money did he start with? I NEED HELP PLEASE!!

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Thomas Escolan asked Sep 3, 2022

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Ringo deposited some money into a savings account. He earned 4% interest. After 6 months he earned $21 in interest. How much money did he start with?

I NEED HELP PLEASE!!

Mathematics
college

Thomas Escolan asked Sep 3, 2022

by Thomas Escolan

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8 votes

Answer:

$1050

Explanation:

I = PRT / 100

I = 21

P = ?

R = 4%

T = 6 months = 0.5 yr

P = 100I / RT

P = (100 * 21) / (4 * 0.5)

P = $1050

Jibeee answered Sep 9, 2022

by Jibeee

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