Clint earned $1155 in interest in a simple account over the last 5 years the account pays 1.25% interest how much did clint originally deposit in his account

The Clint's Original deposit  in his account was $18,480.

Given that,

Clint's Earned Interest at Simple Interest = $1155

Time = 5 years

Rate = 1.25%

We want to determine,

How much he invested, (in Simple Interest term, that is the Principal).

Therefore,

Simple Interest = principal × rate ×time ÷ 100

1155 =

On cross multiplication,

115500 = 6.25P

Divide both sides by 6.25,

P= 18480

Hence, The Clint's Original deposit  in his account was $18,480.

For more information about Simple interest click the link given

$18,480

Step-by-step explanation:

Clint's Earned Interest at Simple Interest=$1155

Time=5 years

Rate= 1.25%

We want to determine how much he invested, (in Simple Interest term, that is the Principal).

Simple Interest=(Principal X Rate X Time)/100

1155=(PX1.25X5)/100

On cross multiplication

115500=6.25P

Divide both sides by 6.25

Principal, P= 18480

It means Clint's Original deposit was $18,480.

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step-by-step explanation:

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