SHOW WORK What interest would be earned by an investment of 4900 at 3.5% for 3 years?
1 answer:
Answer:
514.5
Step-by-step explanation:
<em>We will assume SIMPLE INTEREST for this problem.</em>
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The formula for simple interest is:
Where
i is the simple interest earned
P is the principal
r is the rate of interest (in decimal)
t is the time , in years
Given in the problem,
P = 4900
r = 3,5% = 3.5/100 = 0.035
t = 3 years
Substituting, we find the interest earned:
The interest earned is 514.5
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Answer: The cost of one bag of chips is $1.5 and cost of one bag of pretzels is $1.05.
Step-by-step explanation:
Let x= Cost of one bag of chips
y= Cost of one bag of pretzels.
As per given, we have
5x+9y=16.95 ...(i)
x+y=2.55 ...(ii)
Multiply 5 to (ii), we get
5x+5y=12.75 ...(iii)
Eliminate (iii) from (i), we get
Put value of y in (ii), we get
Hence, the cost of one bag of chips is $1.5 and cost of one bag of pretzels is $1.05.