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If Rita receives $63.90 Interest for a deposit earning 6% simple interest for 150 days, what is the amountof her deposit to the
nearest dollar (zero decimal place). Use a 360-day year. Enter only the number without $ sign

Sagot :

Snor1ax

Answer: 2556

Step-by-step explanation:

Let the amount of the deposit be x dollars

The amount of simple interest earned can be represented by the formula PRT/100

Where,

P is the amount of deposit

R is the annual rate of interest

T is the time in years

Therefore,

P=x

R=6

T=150/360 = 15/36 = 5/12

So,

Simple interest = x(6)(5)/1200

63.90 = 30x/1200

63.90= x/40

x= 63.90×40

x=2556

Therefore, amount deposited = 2556

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