math

posted by .

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

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. math

    Bert is planning to open a savings account that earns 1.6% simple interest yearly. He wants to earn exactly $128 interest after 2 years. How much money should he deposit?
  2. math

    Bert is planning to open a savings account that earns 1.6% simple interest yearly. He wants to earn exactly $240 in interest after 3 years. How much money should he deposit?
  3. 6 grade algebra

    cindy earns 6% simple interest each year on her savings account. if she has $850 in her account and leaves the money in there for 5 years. how much interest will the money earn?
  4. math

    Bert is planning to open a savings account that earns 1.6% simple interest yearly. He wants to earn exactly $160 in interest after 2 years. How much money should he deposit?
  5. math

    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?
  6. math

    Samantha opened a savings account and deposited some money into the account. The account pays an annual simple interest rate of 5%. After 9 years, the interest earned on the account was $1,800. How much money did Samantha deposit in …
  7. Math

    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?
  8. Math

    (a) Themba wants to deposit a sum of money into a savings account so that he will have R30 000 in 3 years time for an overseas holiday how much money must he deposit into the account if the interest paid on the savings is 8,5% p.a …
  9. MATH

    Andrea wants to deposit money into a bank account that earns 2.5% simple interest. Use the formula to find the amount of money that she should deposit so that she earns $2500 after 4.5 years. Show and explain your work.
  10. Math

    Constance invested $4500 for 3 years in a savings account paying simple interest with a yearly interest rate of 3.5%. How much simple interest did she earn?

More Similar Questions