SOLUTION: my problems is: Sharon invested money in a saving account at a rate of 6% simple interest. After 1 yr, she has $6996 in the account. How much did sharn originally invest. Fo

Question 26119: my problems is:
Sharon invested money in a saving account at a rate of 6% simple interest. After 1 yr, she has $6996 in the account. How much did sharn originally invest.
For some reason i cannot get this at al. My equation that i got so far is : 0.06x+12=6996
when i worked out the proble it gave me a big number so i knew it wasn't right. i tried switching the numbers around, but the answer i come up with still doesn't look right. please help!
Answer by mathrebel(25) (Show Source): You can put this solution on YOUR website!
$6996 is whatever sharon invested plus the 6% interest, so the equations is
0.06*x+x=6996
1.06*x=6996
x=(6996/1.06)=6600
One way to check the solution is right is to work backwards;
0.06*(6600)+6600=6996
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