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OpenStudy (anonymous):
Bert is planning to open a savings account that earns 1.6% simple interest yearly. He wants to earn exactly $192 in interest after 3 years. How much money should he deposit?
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OpenStudy (anonymous):
192 = 3*0.016*P Solve for P
OpenStudy (anonymous):
here are the choices : $40 $400 $3,072 $4,000
OpenStudy (anonymous):
I = PRT (Interest = principle * rate * time 192 = P * .016(3) 192 = 0.048P 192/.048 = P 4000 = P
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