You deposit $650 in a savings account. How long does it take an account with an annual interest rate of 5% to earn $178.25 in in
1 answer:
You might be interested in
<u>Answer:</u>
<u>Step-by-step explanation:</u>
We know from the question that the student earned $12.50 <em>per hour</em>.
Using this information, we can say that if the student worked for <em>h </em>hours, they would make a total of 12.50 × <em>h </em>dollars.
We also know that the total money they earned is $2500.75.
∴ Therefore, we can set up the following equation:
From here, if we want to, we can find the number of hours worked by simply making <em>h</em> the subject of the equation and evaluating:
<em>h </em>=<em> </em>
= 200.6 hours