Keegan makes a deposit into her savings account at the beginning of the year. The account earns 3% simple interest each year. She has $360.50 in her account at the end of the year. If Keegan did not make any additional deposits or withdrawals during the year, how much did she deposit into the account at the beginning of the year?

Question

Lance Parker

16 October, 20:42

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Answers (1)

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Lia Carter · Answer 1

Y = 360.5 (1+0.03) ^1

y = 360.5 (1.03) ^1

y = 360.5 (1.03)

y = 371.315

y = 371.32