Question
In 8 years, Estelle's bank account earned $1,270
simple interest at 2.5%. How much had she
deposited in the account?

See Answers (1)

Accepted Answer

Estelle has deposited $6350 in her bank account when the simple interest was 2.5% per year.According to the question,We have the following information:In 8 years, Estelle's bank account earned $1,270 simple interest at 2.5%. Now, let's take the principal amount to be $x.We know that the following formula is used to find simple interest:Simple interest = (principal*rate*time)/100(x*2.5*8)/100 = 1270Using the cross multiplication method:20x = 127000x = 127000/20x = $6350Hence, Estelle has deposited $6350 in her bank account when the simple interest was 2.5% per year.To know more about simple interest herehttps://brainly.com/question/11564235#SPJ1