document.write( "Question 27919: Please help. Sharon invested money in a savings account at a rate of 6% simple interest. After one year she has $6996 in the account. How much did Sharon originally invest?\r
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Algebra.Com's Answer #15215 by bmauger(101) $\"\"$ $\"About$

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Simple interest means that it wasn't compounded. The total amount of money in the bank after a year then is simply what she started with, plus her 6% interest. If we call her original investment x, then the amount of interest after a year is 6% of x or 0.06x. When we add them, we know the total is $6996, so we can write:
\n" ); document.write( " $\"x%2B0.06x=6996\"$ Combining x's:
\n" ); document.write( " $\"1.06x=6996\"$ Divide both sides by 1.06:
\n" ); document.write( " $\"x=6600\"$
\n" ); document.write( "So her original investment was $6,600 and after a year 6% ($396) was added to give her a total of $6,996. \n" ); document.write( "

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