PLZ HELP NOW! Mandy earns money based on how many hours she works. The following table shows Mandy's earnings. Hours 1 2 3 Earni
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Answer:
<em>Mrs. Adams will earn $3,120 of interest at the end of year 8.</em>
Step-by-step explanation:
<u>Simple Interest</u>
In simple interest, the money earns interest at a fixed rate, assuming no new money is coming in or out of the account.
We can calculate the interests earned by an investment of value A in a period of time t, at an interest rate r with the formula:
Mrs. Adams deposited an amount of A=$12,000 into an account that earns an annual simple interest rate of r=3.25%. We must find the interest earned in t=8 years. The interest rate is converted to decimal as:
The interest is then calculated:
Mrs. Adams will earn $3,120 of interest at the end of year 8.
Answer:
<u>Step-by-step explanation:</u>
Isolate w by performing the following steps
- Multiply by 6 on both sides to clear the denominator
- Subtract 3 from both sides
- Divide both sides by 2