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iris [78.8K]
3 years ago
8

Safia opens a new savings account with a 2.25% simple interest rate. She deposits $3,500 and earned $3,696.88 total (with intere

st) by the time she checks the account again. How long was the money left untouched in the savings account?
Mathematics
1 answer:
Art [367]3 years ago
8 0

Answer:

The money was left untouched for 2 years and 6 months or just 2.5 years

Step-by-step explanation:

In this question, we are asked to calculate the time taken for an amount deposited to earn a certain amount of interest.

Mathematically, simple interest can be calculated using the formula;

I = PRT/100

where I is the interest accrued which is 3696.88 - 3,500 = 196.88

P is the principal which is the amount deposited = 3,500 according to the question

R is the rate which is 2.25% according to the question

T is the time which we are to find

we can rearrange the formula making T the subject and we obtain the following;

T = 100I/PR

substituting the values listed above we have;

T = (100 * 196.88)/(3500 * 2.25)

T = 19688/7875

T = 2.5 years or 2 years 6 months

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Answer/Step-by-step explanation:

Let's solve your equation step-by-step.

4−(2y+5)=3(1−4y)

Step 1: Simplify both sides of the equation.

4−(2y+5)=3(1−4y)

4+−1(2y+5)=3(1−4y)(Distribute the Negative Sign)

4+−1(2y)+(−1)(5)=3(1−4y)

4+−2y+−5=3(1−4y)

4+−2y+−5=(3)(1)+(3)(−4y)(Distribute)

4+−2y+−5=3+−12y

(−2y)+(4+−5)=−12y+3(Combine Like Terms)

−2y+−1=−12y+3

−2y−1=−12y+3

Step 2: Add 12y to both sides.

−2y−1+12y=−12y+3+12y

10y−1=3

Step 3: Add 1 to both sides.

10y−1+1=3+1

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Step 4: Divide both sides by 10.

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10

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She has $12,488 in savings

Step-by-step explanation:

Ariana plans to use $260 less than three-fourths of savings to buy a car.

If the purchase price of the car is 9,340, we need to find how much

she has in savings

To find the savings

  • Assume that she has $x in savings
  • Write an equation of x
  • Solve the equation to find x

∵ She has $x in savings

∵ She plans to use $260 less than three-fourths of savings

- Three-fourths means \frac{3}{4} and less than means subtract

∴ She plans to use \frac{3}{4} x - 26

∵ The purchase price of the car is 9,340

- Equate the expression of x by 9,340

∴ \frac{3}{4} x - 26 = 9,340

Now let us solve the equation

∵ \frac{3}{4} x - 26 = 9,340

- Add 26 to both sides

∴ \frac{3}{4} x = 9,366

- Divide both sides by \frac{3}{4}

∴ x = $12,488

She has $12,488 in savings

Learn more:

You can learn more about word problems in brainly.com/question/3950386

#LearnwithBrainly

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