Mr. drysdale earned $906.25 in interest in one year on money that he had deposited in his local bank. if the bank paid an interest rate of 6.25% apr, how much money did mr. drysdale deposit?

$ 14500

Step-by-step explanation:

Let P be the money invested initially,

Annual interest percentage, r = 6.25% = 0.0625,

Time, t = 1 year,

Thus, the interest would be,

Here, I = $ 906.25,

Hence, $ 14500 was deposited.

6 (3) - 4 + 32

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