8. Reece made a deposit into an account that earns 8% simple interest. After 8 years, Reece had earned $400. How much was Reece's initial deposit?

Question

03-11-2022
Mathematics

contestada

8. Reece made a deposit into an account that earns 8% simple interest. After 8 years, Reece had earned $400. How much was Reece's initial deposit?

Respuesta :

Otras preguntas

What evidence in the declaration is there of religious faith? How do you think this religious faith influenced the ideals expressed in the declaration

write a paragraph for me using these words: art critic and art historian

Why did the americans go to Oregon during manifest destiny and why did the mormon go to utah??

What is Germany in German?

Why might nations join together to remove trade barriers?

if y is the principal square of root 5,what must be true

a long distance telephone company charges a rate of 8 cents per minute or 90 cent mininum charge per call, whichever is greater. Find the cost in cents per minu

What is 9-4(2p-1)=45?

What is a Vector and a scalar?

AyaatW735457 AyaatW735457 · Answer 1 · 2022-11-03T19:16:28+01:00

AyaatW735457 AyaatW735457

03-11-2022

[tex]\begin{gathered} P\cdot r\cdot t=I \\ r=0.08 \\ t=8 \\ I=400 \\ \text{from the first equation one has} \\ P=\frac{I}{r\cdot t} \\ \text{hence} \\ P=\frac{400}{0.08\cdot8} \\ P=\frac{400}{0.64} \\ P=625 \end{gathered}[/tex]

Answer Link