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maria [59]
3 years ago
8

Brandy had $7,216.18 in a savings account with simple interest. She had opened the account with $7,006 exactly 1 year earlier. W

hat was the interest rate?
Use the formula i = prt, where i is the interest earned, p is the principal (starting amount), r is the interest rate expressed as a decimal, and t is the time in years.
Mathematics
1 answer:
Tanzania [10]3 years ago
3 0

Answer:

The interest rate is 3%

Step-by-step explanation:

You can find this using the equation 7,216.18 = 7,006 (r) (1 year)

1) divide 7217.18 by 7006 which equals 1.03

2) you will get 1.03 = 1, so you can multiply the original value by 1.03 to get the next value in one year

3) you can subtract 1.03 by 1 to get the yearly interest rate

You might be interested in
Urgent help, please!.....
pishuonlain [190]

To solve this problem, we want to get all of the possible options into the same form, so that it is easier to compare them. Personally, I prefer comparing in decimals, so that is how I am going to solve this problem.


13/4 - To turn this improper fraction into its decimal equivalent, it is easier to first turn it into a mixed number by dividing the numerator by the denominator.

13/4 = 3 1/4

Because we know that 1/4 = 0.25, we now know that 3 1/4 = 3.25

Therefore, 13/4 = 3.25


3 1/2 - This is similar to the end of the process above. We know that 1/2 = 0.5, so we know that 3 1/2 = 3.5

3 1/2 = 3.5


3.15 is already in its decimal form, so we can leave that be for now.


√9 - To simplify this, we must figure out what number multiplied by itself equals 9. If we start with 2 (2*2 = 4), so that is too small. Next maybe we try 4 (4 * 4 = 16), so that is too large. Now we know we need a number in between 2 and 4, so maybe we try 3. 3 * 3 = 9, so we can conclude that √9 = 3.

√9 =3


If we take all of our decimal equivalents, we have 3.25, 3.5, 3.15, and 3.


Because all of these values have the same whole number value of 3, we need to compare the decimals to find out what order they belong in.


Our final order is (from smallest to largest): 3, 3.15, 3.25, 3.5


But, we need to substitute in the equivalent values we were given for these decimals originally to finish the problem.


This makes your final answer: √9, 3.15, 13/4, 3 1/2


Hope this helps!

4 0
3 years ago
Read 2 more answers
What is 3% of $30.00?
CaHeK987 [17]
% means out of 100 so 1%=1/100

so 3%=3/100
$30.00=3000 cents
so you multiply 3/100 by 3000 =(3*3000)/100
you can cross out two zeros at the bottom and on the top and get
(3*30)/1 or 90/1 or 90 cents
3 0
3 years ago
Read 2 more answers
The graph below shows a line of best fit for data collected on the amount of time teenagers spend on the computer and
patriot [66]

Answer:

C) 30 minutes

Step-by-step explanation:

According to the line of best fit, when x=360, y=30, which means that a teenager spends 30 minutes watching television if they spend 360 minutes on the computer.

4 0
3 years ago
How many
Elan Coil [88]
45 12/25 I think that is it
6 0
3 years ago
Solve for Y:<br> 2/3 (y+57 )= 178
sattari [20]
Y= 210  you have to distribute 2/3 to y then to 57 and your equation would be 2/3y + 38= 178 then you take 38 and subtract 178 - 38 and you get 140 then you divide 140/ (2/3) and you will get 210 as your answer.(:
8 0
3 years ago
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