I Medal ! Bert is planning to open a savings account that earns 1.6% simple interest yearly. He wants to earn exactly $144 in interest after 3 years. How much money should he deposit?

$2,304
$300
$3,000
$30

Question

I Medal  !  Bert is planning to open a savings account that earns 1.6% simple interest yearly. He wants to earn exactly $144 in interest after 3 years. How much money should he deposit?

    $2,304
    $300
    $3,000
    $30

mathmath333 · Answer

do u know simple interest formula

mathmath333 · Answer

$\tt \color{black}{\text{u are given interset ,time and rate 
u need to find the principal here}}$

$\large\tt \color{black}{I=Prt}$

$\large\tt \color{black}{144=P\times 1.6\% \times3}$

$\large\tt \color{black}{P=\dfrac{144\times 100}{1.6\times 3}}$

$\large\tt \color{black}{P=3000}$