Remember that we can calculate the sinmple interest earned in an investment or saving using the formula:
Where:
P is the money invested/saved
R is the rate of interest
T is the time of the investment/deposit in years
Using this formula and the data given, we get:
Therefore, the interest earned is $285.60
Answer:
a) 4 months
b) $600
Step-by-step explanation:
1. x - number of months the total amount paid to be the same for both stores.
2. That same amount for store A:
3. That same amount for store B:
4. Since it's the same amount for both stores we can make an equation:
5. To find that same amount, we can use either side of above equation: