Answered

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vanessa deposited money into a bank account yhat earned 1.25% simple interest after each year. after 1/2 year she earned $5 in interest on the account. how much was her initial deposit

Sagot :

The initial amount is $800.

What is interest?

Interest is the price you pay to borrow money or the cost you charge to lend money.

Given:

Simple interest = 1.25% = 0.0125

So, interest in half a year.

=0.0125 ÷ 2

= 0.00625

Now,

=5 / 0.00625

= 800

Hence, the initial deposit was $800

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