You want to put some money in a simple interest account. it pays 6% interest annually for 2 years. you would like to earn $750 in interest. how much money do you need to put in?

$6250

Step-by-step explanation:

Given; Interest = $750 Rate = 6 Time = 2 principal =?

let principal = x

Simple Interest = P × R × T / 100

where p = principal R = rate

T = time

We now go ahead and substitute

Simple Interest = P × R × T / 100

$750 = X × 6 × 2 /100

$750 = 12x / 100

cross multiply

12x = $750 × 100

12x = $75000

Divide bothside by 12

12x/12 = $75000/ 12

x = $6250

Therefore you will need to put $6250

x=30

step-by-step explanation: