SOLUTION: Jane owes the bank some money at 4% per year. After half a year, she paid $45 as interest. How much money does she owe the bank?

SOLUTION: Jane owes the bank some money at 4% per year. After half a year, she paid $45 as interest. How much money does she owe the bank?

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Question 1175330: Jane owes the bank some money at 4% per year. After half a year, she paid $45 as interest. How much money does she owe the bank?

Answer by ankor@dixie-net.com(22740) (Show Source): You can put this solution on YOUR website!
Jane owes the bank some money at 4% per year.
After half a year, she paid $45 as interest.
How much money does she owe the bank?
:
Well, if she pays 4% a year, she would pay 2% in 6 months
x = amt owed the bank
.02x = 45
x = 45/.02
x = $2250
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