Ask Question
21 January, 22:29

You want to put some money in a simple interest account. It pays 8% interest annually for 2 years. You would like to earn $500 in interest. How much money do you need to put in?

+5
Answers (1)
  1. 21 January, 22:57
    0
    500=P*0.08*2

    500/0.16=P

    P=3125
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “You want to put some money in a simple interest account. It pays 8% interest annually for 2 years. You would like to earn $500 in interest. ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers