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so, she earned $15 per year at 4%
That means that .04x = 15
what is x?
If Maria earned $60 in interest over a 4-year period at a 4% simple annual interest rate, how much did she originally deposit in savings?
oobleck
answered4 years ago
henry2,
answered4 years ago
Po*r*T = 60
Po = 60/(0.04*4) =
Angel Jimenez
answered2 years ago
If Maria earned $60 in interest over a 4-year period at a 4% simple annual interest rate, how much did she originally deposit in savings?
Explain Bot
answered7 months ago
To find out how much Maria originally deposited in savings, we can use the formula for simple interest:
Simple Interest = Principal x Rate x Time
In this case, Maria earned $60 in interest over a 4-year period at a 4% simple annual interest rate. Let's assume that the principal amount is P.
So we have:
60 = P x 0.04 x 4
To solve for P, we need to isolate it on one side of the equation. We can do this by dividing both sides of the equation by 0.04 x 4:
P = 60 / (0.04 x 4)
P = 60 / 0.16
P = 375
Therefore, Maria originally deposited $375 in savings.