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23 May, 04:40

Mike's grandmother opened a savings account in Mike's name and deposited some money into the account. The account pays an annual simple interest rate of 6%. After 9 years, the interest earned on the account was $3,780. How much money did Mike's grandmother deposit in the account?

A. $7,500

B. $8,000

C. $7,000

D. $6,000

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Answers (1)
  1. 23 May, 05:05
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    I = p r t 3780 = ?.06 time 9 3780 = ?.54 3780 divide by. 54 Equal to 7,000 The answer is c
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