Question

You want to put some money in a simple interest account.it pays 6% interst annually for 2 years . you would like to earn $750 in interest. how much money do you need to put in.

PLEASE HELP ME WITH THIS~!!

Answer 1

$6,250

Explanation:

Use the simple interest formula and fill in the numbers you are given.

I = Prt

750 = P(.06)(2)

750/0.12 = P = 6,250 . . . . . divide by the coefficient of P

You need to put in $6,250 to earn $750 in interest.