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dedylja [7]
2 years ago
3

Ms. Juarez deposited money into a savings account that pays a simple annual interest rate of 1.6% she earned $38.88 after 3 year

s. how much did she deposit ​
if I'm correct I got $810.00
Mathematics
2 answers:
saul85 [17]2 years ago
4 0

Answer:

Yes, you're correct!

Step-by-step explanation:

To solve reverse percentages, you multiply the money she earned, $38.88 by 100.

=3,888

Then, divide 3,888 by 1.6%.

=2,430

Finally, divide 2,430 by 3 (the number of years)

= 810

Georgia [21]2 years ago
4 0

Answer:

Yes , you are correct, the answer to the question is $810

Step-by-step explanation:

From the question above, the simple interest is given to be $38.88, the time is given to be 3 and the rate is 1.6%, we are to find the money she deposited, that means we are to look for the  principal.

To solve this question, we will simple use the simple interest formula;

Simple Interest = P×R×T / 100

Where P =principal

R=Rate

T=Time (given in years)

We can now substitute our values into the formula;

Simple Interest = P×R×T / 100

           $38.88   =P ×1.6×3    /   100

   

          $38.88 = 4.8P /  100

Cross multiply

4.8P =$3888

Divide both-side of the equation by 4.8

4.8P/4.8  =  $3888/4.8

P    =   $810

Principal is $810

Therefore, this implies the amount she deposited is $810

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