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Alex787 [66]
3 years ago
13

Loretta invested $1000 in a simple interest account yielding 5% paid annually. In 2 years, she will have $1100 in her account. F

rom this example, we can conclude that $1100 represents the
Mathematics
2 answers:
Kitty [74]3 years ago
5 0

Answer:

periodic interest rate

Step-by-step explanation:

Vlad1618 [11]3 years ago
4 0

Answer: $1100 will represent the amount after 2 years at the rate of 5%.

Step-by-step explanation:

Since we have given that

Principal amount = $1000

Rate of interest = 5%

Time period = 2 years

As we know the formula for "Simple Interest ":

Interest=\frac{P\times R\times T}{100}\\\\Interest=\frac{1000\times 5\times 2}{100}\\\\Interest=\$10

And we know that

Amount=Principal+Interest\\\\Amount=1000+100\\\\Amount=\$1100

So, $1100 will represent the amount after 2 years at the rate of 5%.

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Alternate solutions
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Here's the way they want you to do it:

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How do you figure out tax percentages?
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