Homework Help: Math

Posted by Liz on Tuesday, January 8, 2013 at 3:01pm.

I want to open a savings account that earns 1.6% simple interest yearly. I want to earn exactly $288 in interest after 3 years. How much money should I deposit?

Math - Steve, Tuesday, January 8, 2013 at 3:13pm
P(.016*3) = 288
P = 6000

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