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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 …

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 …
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4 votes
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?

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User Rekovni
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8.6k points

2 Answers

3 votes
P=i/rt
P=2625/0.035*5
P==15,000
answered
User Avius
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8.1k points
4 votes
He has deposited 1500 dollars into the account.
answered
User Christopher Bales
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8.8k points
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