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The annual interest rate on the saving account of Xavier which is earned simple interest is 9%.
<h3>What is simple interest?</h3>Simple interest is the amount charged on the principal amount with a fixed rate of interest for a time period. Simple interest calculated only on the principal amount.
The formula for the simple interest can be given as,
Here, (<em>I</em>) is the interest amount on the principal amount of (<em>P</em>) with the rate of (<em>r</em>) in the time period of (<em>t</em>).
Xavier opened a savings account with a deposit of $12,000. At the end of 3 years, the account balance was $12,324.
The principal amount is $12000 and the total amount is $12324. Thus, the interest earned by the Xavier is,
Total time period is 3 years and the account earned simple interest. Thus, put these values in the above formula as,
Hence, the annual interest rate on the saving account of Xavier which is earned simple interest is 9%.
Learn more about the simple interest here;
Answer:
He scored points.
Step-by-step explanation:
Given:
Number of points for a correct answer =
Number of points scored for an incorrect answer =
Therefore, for 35 correct answers, points scored =
Now, for 32 incorrect answers, points scored =
Therefore, net number of points scored by Nathan is:
Therefore, Nathan scored points.