pre algebra 6th grade

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?

  1. 👍 0
  2. 👎 0
  3. 👁 146
asked by Suzanne
  1. 1.08x = 250
    x = 250/1.08
    x = ?

  2. 250=x-.08x

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

    1. 👍 0
    2. 👎 0
    posted by Bob
  3. $20.00

    1. 👍 0
    2. 👎 0
    posted by Pogi

Respond to this Question

First Name

Your Response

Similar Questions

  1. accounting

    On, April 1, 2015, Lester Company received a bank statement that showed a balance of $ 8,950. Lester showed a $8,000 checking account balance. The bank did not return check No. 115 for $750 or check No. 118 for $370.00. A $900.00

    asked by jennifer on January 23, 2017
  2. Alg 2

    Suppose you deposit a principal amount of p dollars in a bank account that pays compound interest. If the annual interest rate r (expressed as a decimal) and the bank makes interest payments n times every year, the amount of money

    asked by rock on December 13, 2011
  3. Alg2

    Help....Help... Suppose you deposit a principal amount of p dollars in a bank account that pays compound interest. If the annual interest rate r (expressed as a decimal) and the bank makes interest payments n times every year, the

    asked by Rock on December 12, 2011
  4. Finite Mathematics

    Jessica wants to accumulate $14,000 by the end of 5 yr in a special bank account, which she had opened for this purpose. To achieve this goal, Jessica plans to deposit a fixed sum of money into the account at the end of the month

    asked by Salvany on February 7, 2011
  5. accounting

    Need advise in how to set up? On, April 1, 2015, Lester Company received a bank statement that showed a balance of $ 8,950. Lester showed a $8,000 checking account balance. The bank did not return check No. 115 for $750 or check

    asked by jennifer on January 23, 2017
  6. math

    . Seth’s current bank offers a 1-year certificate of deposit account paying 2% compounded semiannually. A competitor bank is also offering 2%; but compounded daily. If Seth invests the $100,000, how much more money will he have

    asked by Michael on February 29, 2016
  7. Finance

    7. Today you open a bank account and make a deposit of $6,000. Then you make the following deposits: in t=1 you deposit $6,500, in t=2 $45,000, in t=3 nothing, in t=4 nothing, in t=5 $7,000, in t=6 $8,700. You made your last

    asked by Dantavis on April 14, 2010
  8. Math help

    Samantha finds a bank, Star Bank, which offers a CD account with a 2% interest rate every month. Star Bank’s interest is not compounded. The interest is based on the original amount of deposit. Remember that Samantha has $500 to

    asked by Anonymous on January 24, 2016
  9. mathmatics

    4. Annie finds another bank, Star Bank, that offers a CD account with a 2% interest rate every month. Star Bank's interest is not compounded. The interest is based on the original amount of deposit. Remember that Annie has $500 to

    asked by sabrina on December 20, 2017
  10. Accounting

    . Classify the following items as (a) an addition to the bank balance, (b) a subtraction from the bank balance, (c) an addition to the book balance, or (d) a subtraction from the book balance: _____ $20 in service charges _____ A

    asked by Tiffany on September 16, 2012

More Similar Questions