Mary seitz invested a certain amount of money in a savings account paying 4% simple interest per year. when she withdrew her money at the end of 3 years, she received $ 480 in interest. how much money did mary place in the savings account?

Answer

Find out the how much money did Mary place in the savings account .

To prove

Formula

As given

Mary Seitz invested a certain amount of money in a savings account paying 4% simple interest per year.

When she withdrew her money at the end of 3 years, she received $ 480 in interest.

Interest = $480

Time = 3 years

Rate = 4%

Put in the formula

Principle = $ 4000

Therefore the $4000 money Mary place in the saving account.

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step-by-step explanation:

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