How much interest is earned on a principal of $2.58 invested at an interest rate of 5% for four years?
2 answers:
You might be interested in
Remark
There is no short way to do this problem and no obvious way to get the answer other that to solve each part.
Solve
A
Multiply by 2
x + 1.6 = 2(x + 0.1) Remove the brackets
x + 1.6 = 2x + 0.1*2
x + 1.6 = 2x + 0.2 Subtract x from both sides
1.6 = x + 0.2 Subtract 0.2 from both sides
1.6 - 0.2 = x
1.4 = x
Circle A
B
Subtract 2x from both sides.
3x - 2x = 1.4
Circle B
C
Remove the brackets.
4x + 6 = 2x - 6 Add 6 to both sides
4x + 12 = 2x Subtract 4x from both sides.
12 = -2x Divide by - 2
12/-2 = x
x = - 6 Don't circle C
D
I'm going to be very scant in my solution of this. You can fill in the steps.
3x = 4.2
x = 4.2/3
x = 1.4
Circle D