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3 years ago

joe puts $790.00 into a savings account that pays 5.5% simple interest. he leaves the money in his account for two years.

Mathematics

1 answer:

Dmitrij [34]3 years ago

6 0

Answer: $879.29

Step-by-step explanation:

790(1.055)^2

790(1.113025)

= 879.28975

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If the principal is $300 rate 3% time 4 years then what is the interest earned and the new balance

Tomtit [17]

Answer:

a) Interest earned = $36

New Balance = $336

b) Interest rate = 0.05 or 5%

New Balance = $517.5

c) time t = 5

New Balance = $612.5

d) Principal Amount = $675

New Balance = $783

Step-by-step explanation:

We are given:

a) Principal (P) = $300

Rate (r) = 3% or 0.03

Time (t)= 4 years

Interest earned = ?

The formula used is: $Simple \ Interest (I)= P\times r\times t$

Putting values and finding interest

$Simple \ Interest (I)= P\times r\times t\\Simple \ Interest (I)= 300\times 0.03\times 4\\Simple \ Interest (I)= 36$

So, Interest earned = $36

New Balance = Principal + Interest = 300+36 = $336

b) a) Principal (P) = $300

Rate (r) = ?

Time (t)= 3 years

Interest earned = 67.50

The formula used is: $Simple \ Interest (I)= P\times r\times t$

Putting values and finding rate

$Simple \ Interest (I)= P\times r\times t\\67.50= 450\times r\times 3\\67.50=1350\times r\\r=\frac{67.50}{1350}\\r=0.05 \ or \ 5\%$

So, Interest rate = 0.05 or 5%

New Balance = Principal + Interest = 450+67.50 = $517.5

c) Principal (P) = $500

Rate (r) = 4.5% or 0.045

Time (t)= ?

Interest earned = $112.50

The formula used is: $Simple \ Interest (I)= P\times r\times t$

Putting values and finding time

$Simple \ Interest (I)= P\times r\times t\\112.50= 500\times 0.045\times t\\112.50=22.5 \times t\\t=\frac{112.50}{22.5}\\t=5$

So, time t = 5

New Balance = Principal + Interest = 500+112.50 = $612.5

d) Principal (P) = ?

Rate (r) = 8% or 0.08

Time (t)= 2 years

Interest earned = 108.00

The formula used is: $Simple \ Interest (I)= P\times r\times t$

Putting values and finding Principal

$Simple \ Interest (I)= P\times r\times t\\108=P\times 0.08 \times 2\\108=P\times 0.16\\P=\frac{108}{0.16}\\P=675$

So, Principal Amount = $675

New Balance = Principal + Interest = 675+108 = $783

8 0

3 years ago

A rectangle with a width of 3 units and a length of x +5

Luden [163]

Answer:

The area is 45 units squared

Step-by-step explanation:

If the rectangle's width is 3 units, and the length is 5 times then:

5 x 3 = 15

So the length is 15 units

The area is length times width

15 x 3 = 45

The area is 45 units squared

7 0

3 years ago

Carl has three lengths of cables, 5/6 yard long, and 2/3 yard long. If he uses 1 yard of cable, how much cable is left?

DedPeter [7]

Answer: 1/6th

Step-by-step explanation:idk fr

8 0

3 years ago

Solve 6x-4=2x+16 HELLLLPPPPPPP

Troyanec [42]

X=5 that is the answer

6 0

3 years ago

Read 2 more answers

1. The three salespeople for a local advertising firm are Sara, Kenny, and Leila. Sara sold $3350 in ads, Kenny sold $1368, and

Dominik [7]

Answer:

$\text{Fraction of Sara sold }= \dfrac{1675}{2587}$

$\text{Fraction of Kenny sold }= \dfrac{684}{2587}$

$\text{Fraction of Leila sold }= \dfrac{228}{2587}$

Step-by-step explanation:

The three salespeople for a local advertising firm are sara, Kenny and Leila.

Sara sold total ads = $3350

Kenny sold total ads = $1368

Leila sold total ads = $456

First we calculate total sale of all three = 3350 + 1368 + 456 = $5174

We need to find fraction of total sale with each person sell.

$\text{Fraction of Sara sold }=\dfrac{\text{Sara total sold}}{\text{Total sale by all three}}$

$\text{Fraction of Sara sold }=\dfrac{3350}{5174}\Rightarrow\dfrac{1675}{2587}\approx 64.75\%$

$\text{Fraction of Kenny sold }=\dfrac{\text{Kenny total sold}}{\text{Total sale by all three}}$

$\text{Fraction of Kenny sold }=\dfrac{1368}{5174}\Rightarrow\dfrac{684}{2587}\approx 26.45\%$

$\text{Fraction of Leila sold }=\dfrac{\text{Leila total sold}}{\text{Total sale by all three}}$

$\text{Fraction of Leila sold }=\dfrac{456}{5174}\Rightarrow\dfrac{228}{2587}\approx 8.8\%$

4 0

3 years ago