Answer:
Step-by-step explanation:
12)
Use the formula for simple interest, i = p r t, where i is the interest earned, r is the interest rate as a decimal fraction, and t is the time elapsed. Here,
i = $25 = p(0.015)(2), or $25 = 0.03p.
Dividing both sides by 0.03, we get p = $25/0.03, or p = $833.33
14)
Use the same formula: $45.60 = $2,400(0.038)t.
$45.60 $45.60
Then t = ------------------------- = ----------------------- = 2 (years)
($2,400)(0.038) 91.2
