Gina wants to save money, so she can buy a new bike that costs $200. How much should she deposit into a saving
Gina wants to save money, so she can buy a new bike that costs $200. How much should she deposit into a savings account at 10% annual simple interest in order to have enough money to buy the bike after two years? (use the formula A = p + prt) This is the full question. These are the possible answrs. $166.67 $150.00 $168.72 $196.08
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- A. 166.67 (x 20%) = 200
- 166.67
- A=$200 p=x r=.10 t=2 yrs solve it!!! A=p+prt 200=x+.2x 200=1.2x 166.67=x
- 200 = P + P(0.10)2 200 = P(1 + 0.20) 200 = P + 0.20P 200 = 1.20P P = 166.67
- Technically all except $150 works but the closest is $166.67
