Matthew earned $75 in interest on
his savings account in one year.
the bank paid a simple interest
rate of 5%. what was the initial
amount of money matthew put
into his savings account?

Step-by-step explanation:

The formula for simple interest is

I = Prt,

where I is the interest earned,

P is the initial investment amount,

r is the interest rate in decimal form, and

t is the time in years.  For us,

I = 75,

P = ?

r = .05

t = 1

Filling in what we were given:

75 = P(.05)(1) and

.05P = 75 so

P = 1500

answer: haha (: i’ll go see what it is

step-by-step explanation: