A sum of money is deposited in a bank which offers a simple interest rate of 0.325% per annum. At the end of the 4 years, the total amount receives is $50 650. Find the sum of money deposited.

50.000

Step-by-step explanation:

the formula to get ther is the following:

X + ( X * * 4 ) = 50.650

X is the initial amount of money you need to find

4 are the years of interests

So, If you have interests, it means that some money will be added to yours. But how much?

The problem says that every year 0.325% of your initial amount will be added, so you will calculate that amount( X * ) and you multiply it by four.

All this added to your initial amount will be the final number you have 50.560

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step-by-step explanation:

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