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10 April, 15:18

Enrique earned $101.40 in interest over 6 years in a savings account that pays 1.3 % simple interest per year. how much did Enrique originally deposit?

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  1. 10 April, 17:03
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    Simple interest, I = 101.40

    Time, t = 6 years

    interest, i = 1.3%

    Interest, I=Pit, rearrange

    Principal, P=I / (it) = 101.40 / (6*0.013) = 1300
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