Hurry safiya deposited money into a bank account that earned 6.5% simple interest each year. after 3 1/2 years, she had earned $36.40 in interest on the account. if no other money was deposited into or withdrawn from the account, how much was her initial deposit?   enter your answer in the box

Hi there! So, if $36.40 in interest was in her account after 3.5 years, we can divide both numbers. 36.4/3.5 is 10.4. That's $10.40 in interest per year, with the rate of simple interest being 6.5%. But to make it easier, we can divide 10.40 by 6.5 to find the unit rate. When you divide both number, you get 1.6. 1% of the initial amount is $1.60. Percents are parts of 100. Multiply 1.6 by 100 to get 160. Now, let's divide the interest earned yearly by initial amount to see if it works. 10.4/160 is 0.065 or ^.5% when turned into decimal form. there. Safiya's initial deposit in the bank was $160.

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