Question

(4) Madison invested $5,000 at a rate of 7.5%. How much money did she have after 6 months?​

Answer 1

Answer:

A = $5,187.50

Step-by-step explanation:

First, converting R percent to r a decimal

r = R/100 = 7.5%/100 = 0.075 per year.

Putting time into years for simplicity,

6 months / 12 months/year = 0.5 years.

Solving our equation:

A = 5000(1 + (0.075 × 0.5)) = 5187.5

A = $5,187.50

The total amount accrued, principal plus interest, from simple interest on a principal of $5,000.00 at a rate of 7.5% per year for 0.5 years (6 months) is $5,187.50.

Answer 2

30,000$ is how much