document.write( "Question 1204037: A bank offers a CD that pays a simple interest rate of 6.0%. How much must you put in this CD now in order to have $3000 for a home-entertainment center in 2 years. \n" ); document.write( "

Algebra.Com's Answer #840039 by ikleyn(52782) $\"\"$ $\"About$

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document.write( "Use the simple interest formula and write equation for the future value\r\n" );
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document.write( "    3000 = x*(1+0.06*2),\r\n" );
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document.write( "where x is the unknown starting deposit.\r\n" );
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document.write( "From this equation, find x\r\n" );
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document.write( "    x =  = 2678.58  (rounded to the closest greater cent).   ANSWER\r\n" );
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\n" ); document.write( "\n" ); document.write( "To see many other similar (and different) solved problems on simple interest accounts, look into the lesson\r
\n" ); document.write( "\n" ); document.write( " - Simple interest percentage problems \r
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\n" ); document.write( "\n" ); document.write( "Learn the subject from there.\r
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