manhattan cat - Exactly one year ago, Ray put his

by **Beatrice Michael** Wed Sep 12, 2012 1:47 am

Exactly one year ago, Ray put his money into a savings account that yields 0.8% simple interest. If he has earned a profit of $28, how much did he originally deposit?

3500

I am not able to understand the strcuure or logic can you please advice

by **tim** Thu Sep 13, 2012 5:35 am

use the formula that interest = principal * rate:

28 = p * 0.8%
28 = p * 0.8/100
2800 = p * 0.8
p = 2800 / 0.8

manhattan cat - Exactly one year ago, Ray put his

manhattan cat - Exactly one year ago, Ray put his

Re: manhattan cat - Exactly one year ago, Ray put his