SOLUTION: How much money will you need to deposit to earn 75$ in simple interest in 6months if your bank pays 5% annually

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Question 503254: How much money will you need to deposit to earn 75$ in simple interest in 6months if your bank pays 5% annually
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
You would get 2.5% interest in 6 months
Let +x+ = deposit
+75+=+.025x+
+x+=+75%2F.025+
+x+=+3000+
You need to deposit $3,000