pre algebra 6th grade

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Tara's bank account contains $250.00. She made only one deposit exactly one year ago. The bank account pays a simple interest rate of 8%. How much money did Tara deposit in the account one year ago?

  • pre algebra 6th grade -

    1.08x = 250
    x = 250/1.08
    x = ?

  • pre algebra 6th grade -

    250=x-.08x

    250=(1-.08)x
    250/(1-.08)=x
    271.73=x

  • pre algebra 6th grade -

    $20.00

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