Mathematics: smith put some money in a saving certificate which earns 8% a year. the yearly interest in $600. how much did smith invest?

smith put some money in a saving certificate

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kittenlover5031

15.12.2021

$~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\dotfill&\$600\\ P=\textit{original amount deposited}\\ r=rate\to 8\%\to \frac{8}{100}\dotfill &0.08\\ t=years\dotfill &1 \end{cases} \\\\\\ 600=P(0.08)1\implies \cfrac{600}{0.08}=P\implies 7500=P$

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mommyp1973

05.01.2022

Mathematics

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smith put some money in a saving certificate which earns 8% a year. the yearly interest in $600. how much did smith invest?

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