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If Rita receives $63.90 Interest for a deposit earning 6% simple interest for 150 days, what is the amountof her deposit to the

nearest dollar (zero decimal place). Use a 360-day year

Respuesta :

The amount of Rita deposit is $2556.

What is Simple Interest ?

The interest calculated on the principal amount or the initial investment.

It is given in the question

If Rita receives $63.90 Interest for a deposit earning 6% simple interest for 150 days.

P = ?

S.I. =  $63.90

Interest = 6%

T = 150days

S.I. = (P *R*T)/100

63.90 = P * 6 * 150*100 /360

63.90 * 360*100 /( 150 *6) = P

P = $2556

Therefore the amount of Rita deposit is $2556.

To know more about Simple Interest

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