Question

your savings account earns simple interest of 6% per year. last year you earned 12.55 in interest. how much money was in the savings account at the start of the year? round your answer to the nearest penny

Answer 1

$209.17

Explanation:

If you take the interest of $12.55 and divide it by 0.06% (opposite operations because the start money is START MONEY times 0.06%) you will get the answer of $209.1666666 which rounds up to $209.17