BlehBlah4873 BlehBlah4873

25-01-2021
Mathematics

contestada

if you put money into a savings account that earns $84.00 over seven years at a rte of 3%, how much money did you put into the account?

Respuesta :

topeadeniran2 topeadeniran2

29-01-2021

Answer:

Step-by-step explanation:

To solve this, we would use the formula for calculating simple interest which is:

Interest = PRT

Then, we will slot in the values given which will be:

84 = P × 3% × 7

84 = P × 0.03 × 7

84 = 0.21P

P = 84/0.21

P = $400

The Principal is $400

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