Answer: Simple interest rate = 3%.
Step-by-step explanation: We are given invested amount = $5000.
Number of years of investment = 4 years.
Interest earned = $600.
Simple interest formula.
I = P R T.
Where I is the earned interest, P is the invested amount , R is the rate of interest and T is the time in years.
Plugging values in formula, we get
600 = 5000 × R × 4
600 = 20000R.
Dividing both sides by 20000, we get
0.03 = R.
Multiplying by 100 to convert it in percentage, we get
0.03 × 100 = R
R = 3 %.
The correct answer is D.
Sally is 3 years younger than Ralph therefore S=R-3 which means Sally is Ralph’s age minus 3.
She will have $2118 in her account after five years
<h3>How to determine the amount in five years?</h3>
The given parameters about the compound interest are
Principal Amount, P = $1,900
Interest Rate, R = 2.2%
Time, t = 5
Compound interests are different from simple interest, and they are calculated using the following compound interest formula
CI = P(1 + R)^t - P
To calculate the amount, we have:
A = P + CI
So, the equation becomes
A = P + P(1 + R)^t - P
Evaluate the like terms
A = P(1 + R)^t
Substitute the known values in the above equation
A = 1900 * (1 + 2.2%)^5
Express 2.2% as decimal
A = 1900 * (1 + 0.022)^5
Evaluate the sum
A = 1900 * (1.022)^5
Evaluate the exponent
A = 1900 * 1.11495
Evaluate the product
A = 2118
Hence, she will have $2118 in her account after five years
Read more about compound interest at:
brainly.com/question/24924853
#SPJ1
the answer is 2B divided by A minus 3
