Question

Aiden earned $50 in interest in six

months. If his savings account has a
rate of 5%, how much did Aiden
start with in his account?

Answer 1

$2000
Hope this helps you
May God bless you and your family

Answer 2

9514 1404 393

Answer:

$2000

Explanation:

The amount of interest is given by the formula ...

I = Prt

where P is the principal invested, r is the annual rate, and t is the number of years. Here, we want to find P when I = 50, r = 0.05, and t = 1/2.

50 = P(0.05)(1/2)

P = 50/(0.05·1/2) = 2000

Alden started with $2000 in his account.