Karina earned $296.65 interest on her savings in two years. The interest rate was 8.5%. How much were here savings?
Karina earned $296.65 interest on her savings in two years. The interest rate was 8.5%. How much were here savings?
$296.65 / 2 =$148.33 Interest earned for 1 year.
$148.33 / .085 =$1,745.06 This is the balance of Karina's savings acct. This was on the assumption that the interest earned was "simple" and not "compound" interest.
