Question 391598: how much money must you deposit into a savings account that has a 3% annual interest rate to earn 100.00 in three years? Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! how much money must you deposit into a savings account that has a 3% annual interest rate to earn 100.00 in three years?
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Simple Interest = p*r*t
100=p*0.03*3
p=100/3*0.03
p=100/0.09
p= $1111.11
