sam deposits $700 in a bank that pays 5 1/4 annual interest. how much interest did he earn after 3 months?
1 answer:
Answer:
Around $9.19
Step-by-step explanation:
"1/4" basically means:
1/4 = 0.25
THus, we can say annnual interest rate is 5.25%
Converting to decimal, we have:
5.25/100 = 0.0525
To find annual interest, we have to multiply interest rate (0.0525) with principal amount (700), so annual interest would be:
700 * 0.0525 = $36.75
That would be earned in 1 year.
But the money is kept LESS than 1 year, 3 months to be exact. We know
3/12 = 1/4th year
So, 3 months is 1/4th of a year. So $36.75 in 1 year, 3 months would be 1/4th of that:
Rounding to 2 decimal places, that would be around $9.19
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Answer:
36.4mi
Step-by-step explanation:
The boat sailed two legs of a right-angled triangle.
The distance from the starting point is the hypotenuse of the triangle.
d = √(35² + 10²)
= √(1225 + 100)
= √1325
= 36.4 mi
