emj2ackLanarley emj2ackLanarley

09-05-2016
Mathematics

Answered

Mike's grandmother opened a savings account in Mike's name and deposited some money into the account. The account pays an annual simple interest rate of 6%. After 9 years, the interest earned on the account was $3,780. How much money did Mike's grandmother deposit in the account?

A$7,500
B$8,000
C$7,000
D$6,000

Verified Answer :

Snowpaw Snowpaw

15-05-2016

I= p r t
3780 = ? .06 time 9
3780 = ? .54
3780 divide by .54
Equal to 7,000
The answer is c

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