SOLUTION: Bert is planning to open a savings account that earns 1.6% simple interest yearly. He wants to earn exactly $144 in interest after 3 years. How much money should he deposit?

SOLUTION: Bert is planning to open a savings account that earns 1.6% simple interest yearly. He wants to earn exactly $144 in interest after 3 years. How much money should he deposit?

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Question 828827: Bert is planning to open a savings account that earns 1.6% simple interest yearly. He wants to earn exactly $144 in interest after 3 years. How much money should he deposit?

Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
144/3=48
48/0.016=3000
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