Bert is planning to open a savings account that earns 1.6% simple interest yearly. He wants to earn exactly $384 in interest after 3 years. How much money should he deposit?

please just say the darn answer

its fr fr 8000

To determine how much money Bert should deposit, we can use the formula for simple interest:

Interest = Principal × Rate × Time

Given that the interest is $384, the rate is 1.6% (or 0.016 as a decimal), and the time is 3 years, we can rearrange the formula to solve for the principal:

Principal = Interest / (Rate × Time)

Substituting the given values into the formula:

Principal = $384 / (0.016 × 3)

Calculating this expression:

Principal = $384 / 0.048

Principal = $8,000

Therefore, Bert should deposit $8,000 in order to earn exactly $384 in interest after 3 years.

Bert is planning to open a savings account that earns 1.6% simple interest yearly. He wants to earn exactly $384 in interest after 3 years. How much money should he deposit?

its 7,000

The answer is $7000🤑🤑🤑

0.52

since no one is saying the answer its 800

I = PRT

384 = P * 0.16 * 3

Solve for P