Saturday
March 25, 2017

Post a New Question

Posted by on .

5. Bert is planning to open a savings account that earns 1.6% simple interest yearly. He wants to earn exactly $192 in interest after 2 years. How much money should he deposit?

  • math - ,

    192 /2 = 96 for a year

    96 is equal to 1.6 / 100 = 16/1000 = 2/125x

    125/2 * 96 = x

    6000=x

    so he should depoist 6000 dollars

  • math - ,

    Interest = Principle x rate x time
    192 = P(.016)(2)

    P = 6000

Answer This Question

First Name:
School Subject:
Answer:

Related Questions

More Related Questions

Post a New Question