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BlackZzzverrR [31]
3 years ago
6

Alice earned $622.50 in interest on her savings in the bank. Before interest, the account had $12,450. What is the approximate p

ercent she earned in interest?
3%
5%
7%
10%
Mathematics
2 answers:
Lubov Fominskaja [6]3 years ago
7 0

<u><em>Answer:</em></u>

5%


<u><em>Explanation:</em></u>

% she earned in interest can be calculated by calculating the % of increase in the balance


<u>We have:</u>

Original balance = $12,450

Amount of interest = $622.5

<u>This means that:</u>

new balance = 12,450 + 622.5 = $13,072.5


<u>Now, we can get the percentage of increase:</u>

% of increase = \frac{Value_n_e_w - Value_o_l_d}{Value_o_l_d} *100


<u>Substitute with the values we have to get the percentage of interest earned as follows:</u>

% of interest earned = \frac{13072.5 - 12450}{12450} * 100 = 5%


Hope this helps :)

Sonja [21]3 years ago
6 0
\sf~I=prt

Plug in what we know:

\sf~622.5=(12450)r(1)

Multiply:

\sf~622.5=12450r

Divide 12450 to both sides:

\sf~r=0.05

Multiply by 100:

\sf0.05\times100=5\%
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