SOLUTION: Three years after opening an account that paid simple interest of 6.45% annually , a depositor withdrew the $2,902.50 in interest earned. How much money was left in the account?

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: Three years after opening an account that paid simple interest of 6.45% annually , a depositor withdrew the $2,902.50 in interest earned. How much money was left in the account?      Log On


   



Question 343553: Three years after opening an account that paid simple interest of 6.45% annually , a depositor withdrew the $2,902.50 in interest earned. How much money was left in the account?
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
I=Prt
P=I/rt
P=2902.50/0.0645*3
P=2902.50/0.1935
P=$15,000