Here is a math question. joey made a deposit into an account that earns 6% simple interest. after 3 years, joey has earned $400. how much was joey's initial deposit?

His initial deposit is $2222.2

Step-by-step explanation:

To find the amount deposited, we will simply use the formula for calculating simple interest.

Simple Interest =

Where p = principal

           R= Rate

            T= Time

Principal is the initial amount deposited which we are ask to find.

R is given to be 6%  and T is the time which is given in years

Simple interest is the interest earned over the year which is given to be $400

Lets substitute our variable into the equation

Simple Interest =

$400  = P × 6 × 3   /     100

$400 =

We will then cross multiply

$40 000  =   18 P

To get  the value of P, we divide both-side of the equation by 18

  =  

$2222.22 =  P

P = $2222.22

Joey's initial deposit is $2222.22

18

step-by-step explanation:

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answer: i dont know but if you try hard you will get it right : )

step-by-step explanation: