SOLUTION: A time-deposit savings plan gives an interest rate of 6.42% on deposits. If the interest on an account for 1 year was $545.70, how much was deposited?

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Question 490742: A time-deposit savings plan gives an interest rate of
6.42% on deposits. If the interest on an account for 1 year was $545.70, how much
was deposited?
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
545.70/0.0642=$8500