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Rebecca earned $115 in simple interest for 8 months at an annual interest rate of 3%. How much money did she start with in her account?

Respuesta :

MrRoyal

The amount of money she started with is $5750

How to determine the amount she start with?

The given parameters are:

Interest = $115

Rate = 3%

Time = 8 months

The amount she start with (P) is calculated using:

P = I/(RT/12)

This gives

P = 115/(3% * 8/12)

Evaluate the product

P = 115/(0.02)

Divide

P = 5750

Hence, the amount of money she started with is $5750

Read more about simple interest at:

https://brainly.com/question/25845758

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