Ask Question
10 November, 18:29

Bert is planning to open a savings account that earns 1.6% simple interest yearly. He wants to earn exactly $144 in interest after 3 years. How much money should he deposit?

A.

$2,304

B.

$300

C.

$30

D.

$3,000

+1
Answers (1)
  1. 10 November, 20:10
    0
    Answer: $ 3,000

    Step-by-step explanation:

    I = PTR/100

    144 = P X 3 X 1.6/100

    14400 = 4.8P

    14400/4.8 = P

    Therefore P = 3000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Bert is planning to open a savings account that earns 1.6% simple interest yearly. He wants to earn exactly $144 in interest after 3 years. ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers