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max2010maxim [7]
3 years ago
5

Katie wants to know how much she needs to deposit into a two year CD account in order to earn $100 in simple interest. The accou

nt currently has a 1.5% interest rate. Round to the nearest cent . SHOW ALL WORK FOR ANY CREDIT!!
Mathematics
1 answer:
sergey [27]3 years ago
7 0

Answer:

To obtain $ 100 in simple interest with a rate of 1.5%, Katie must deposit $ 6,666.66.

Step-by-step explanation:

Given that Katie wants to know how much she needs to deposit into a two year CD account in order to earn $ 100 in simple interest, knowing that the account currently has a 1.5% interest rate, the following calculation must be performed:

X x 0.015 = 100

X = 100 / 0.015

X = 6,666.66

6,666.66 x 1.015 = 6,766.66

Thus, to obtain $ 100 in simple interest with a rate of 1.5%, Katie must deposit $ 6,666.66.

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2) Shane puts aside $40 per week for his monthly car payment. He earns $320 per week.
ExtremeBDS [4]

Answer:

12.5%

Step-by-step explanation:

320 divided by 40 = 8

100 divided by 8 = 12.5

100% is 320 dollars, which means that 40 dollars is 1/8 of 320. And 1/8 of 100 is 12.5%

8 0
3 years ago
2x + 3x + 4 equals .
RUDIKE [14]
Add like terms
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3 years ago
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tatyana61 [14]
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3 years ago
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8090 [49]
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