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Bert is planning to open a savings account that eams 1.6% simple interest yearly. He wants to earn exactly $224 in interest after 2 years. How much money should he deposit? A. $7,000 B. $3,584 C. $70 D.
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Bert is planning to open a savings account that eams 1.6% simple interest yearly. He wants to earn exactly $224 in interest after

2 years. How much money should he deposit?
A. $7,000
B. $3,584
C. $70
D. $700

User Havi
by
4.5k points

1 Answer

4 votes
Answer is:

$7,000 x 1.6% = $112
$112 x 2 years = 224
User Karthikeyan VK
by
5.1k points
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