Toby's average balance checking account pays simple interest of 2.4% annually, and he made $3.25 in interest last month. what was toby's average balance last month?

QUESTION POSTED AT 18/04/2020 - 05:52 PM

Answered by admin AT 18/04/2020 - 05:52 PM

2.4% annually is 0.2% monthly

0.2% if X = 3.25

x = $1625
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