All categories

2 years ago

An account earns simple interest. (a) Find the interest earned. (b) Find the

Mathematics

1 answer:

Debora [2.8K]2 years ago

8 0

Answer:

#a. $80

#b. $1680

Step-by-step explanation:

We are given;

Amount invested (principal) is $1600
Rate of interest is 5%
Time = 1 year

We are required to determine the amount of simple interest earned and the amount or balance in the account after 1 year.

#a. Interest earned

To calculate simple interest we use the formula;

I = (PRT) ÷ 100

Where, P is the principal, R is the rate, T is the time and I is the simple interest.

Therefore;

I = (1600 × 5 × 1) ÷ 100

= $80

Therefore, simple interest earned is $80

#b. Balance of the account (Amount accrued)

We are going to use the formula;

A = P + I , where A is the amount accrued, P is the principal and I is the simple interest earned.

Therefore;

Account balance = $1600 + $80

= $1680

Thus, the account balance after 1 year will be $1680

You might be interested in

Can someone help answer and explain to me how to solve this? log (lowercase 6) 1/36

MissTica

Answer: The log simplifies to -2

-------------------------------------------
-------------------------------------------

Explanation:

We will use the log rule that log(x^y) = y*log(x). Call this log rule 1. This log rule basically allows us to pull the exponent down.

Another log rule that we will use is $\log_x\left(x\right) = 1$ where x is any positive real number but x = 1 is NOT allowed. Call this log rule 2.

Because 36 = 6^2, this means that 1/36 = 6^(-2)

-------------

So,

$\log_6\left(\frac{1}{36}\right)=\log_6\left(\frac{1}{6^2}\right)$

$\log_6\left(\frac{1}{36}\right)=\log_6\left(6^{-2}\right)$

$\log_6\left(\frac{1}{36}\right)=-2*\log_6\left(6\right)$ Use log rule 1 (see above)

$\log_6\left(\frac{1}{36}\right)=-2*1$ Use log rule 2 (see above)

$\log_6\left(\frac{1}{36}\right)=-2$

This means that the given expression simplifies to -2

You can use a calculator to type in "log(1/36)/log(6)" without quotes and you should get -2 as the answer

6 0

3 years ago

Read 2 more answers

if p is an integer, which of the following is the solution set for 2|p| = 16? {0, 8} {-8, 8} {-8, 0} {-8, 0, 8}

Veronika [31]

$2|p|=16\ \ \ |divide\ both\ sides\ by\ 2\\\\|p|=8\iff p=8\ or\ p=-8\\\\Answer:\boxed{\{-8;\ 8\}}$

8 0

3 years ago

5/6 + 3j = -2/3 I need to find the value of j

weeeeeb [17]

5/6 + 3j = -2/3

Multiply all terms by 3.

5/2 = 3j - 2

Multiply all terms by 2.

5 = 6j - 4

Add 4 to both sides.

9 = 6j

Divide both sides by 6.

j = 1.5

8 0

3 years ago

Marla bought 12 books for $27.60. What is the price per book?

Ilia_Sergeevich [38]

Answer: $2.30

Step-by-step explanation:

Because if we do $27.60 divided by 12 we get 2.3 which then means 1 book cost $2.30

HOPE THIS HELPS ^^

7 0

2 years ago

Read 2 more answers

At Kirby Middle School, some students were surveyed to see which social media app they used the most. The results are shown belo

Murljashka [212]

Answer:

44%

Step-by-step explanation:

you add up all the numbers to get the total then divied the single number (eg. 8) by the total. It will then show up as a decimal so in order to get rid of the decimal you multiply by 100. ( eg. 8 ÷50=0.16 → 0.16×100= 16 → 16% )

5 0

3 years ago