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iogann1982 [59]
3 years ago
10

Sami's bank account earns 4% simple interest per year. If Sami deposits $500, how much simple interest will she earn in one year

?
Mathematics
1 answer:
timurjin [86]3 years ago
6 0

Answer:

$20 simple interest.

Step-by-step explanation:

The simple interest that Sami earns is 4% of her deposit since she is trying to find how much she will earn in one year (given that the interest rate is 4% per annum).  

\$500\times4\%=\$20

∴ Sami earns $20 simple interest in one year.

Hope this helps :)

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A fitness center has two membership plans. One has a low dollar sign up fee of 15 dollars and cost 38 dollars per month to join.
victus00 [196]
Let x be the number of months.
The first plan is 15 dollars sign up fee and 38 dollars per month. So the equation is 38x + 15.
The second plan is 78 dollars as sign up fee and 31 dollars per month. So the equation is 31x + 78.

We need find when x has the same value in both equations, so we do their equality:
38x + 15 = 31x + 78
Let's subtract 15 from both sides
38x + 15 = 31x + 78
38x + 15 - 15 = 31x + 78 - 15
38x = 31x + 63

Now let's subtract 31x from both sides to have the variables on a side and the numbers on side:

38x = 31x + 63
38x - 31x = 31x - 31x + 63
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Divide both sides by 7 to have the variable x on a side and its value on the other:
(7x)/7 = 63/7
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So at month 9, the 2 plans will cost the same.

Let's check our answers, and let y be the cost:
y = 38x + 15 = 38*9 + 15 = 357
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Our answer has been approved.

Hope this helps! :D
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