Nat opened an account that earns 1.4% simple annual interest. He will earn $21 total interest after 3 years. How much did he deposit when he opened the account?

Therefore Nat deposited $500 when he opened the account.

Step-by-step explanation:

Given that Nat opened an account that earns 1.4% simple annual interest. He will earn $21 total interest after t years.

The simple interest formula is

I= interest= $21

P= Principal=?

t= time in year= 3 years.

r = rate of interest= 1.4%= 0.014

       =$500

Therefore Nat deposited $500 when he opened the account.

step-by-step explanation:

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