Samuel deposited money in an account that pays an annual simple interest rate of 3.5%. at the end of 5 years, samuel earns $2625.00 in interest. how much money had he deposited in the account?
(2) Answers
He has deposited 1500 dollars into the account.
P=i/rt P=2625/0.035*5 P==15,000
Add answer
Sign in
Sign up