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3 years ago

Li deposited $17,500 into a bank account that earned simple interest each year. After 2 years, he had earned $2975 in interest.

Mathematics

1 answer:

sergij07 [2.7K]3 years ago

8 0

Answer: 8.5%

Step-by-step explanation:

Formula : Simple interest = (Principal) x (annual interest rate) x (Time) (i)

Given: Principal : P = $ 17,500

Time : 2 years

Simple interest : I = $ 2975

Let r = annual

$2975=17500\times(r)\times(2)$

$\Rightarrow\ r=\dfrac{2975}{17500\times2}\\\\\Rightarrow\ r=0.085\\\\\Rightarrow\ r=0.085\times100\\\\\Rightarrow\ r=8.5\%$

Hence, The annual interest rate was 8.5%.

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Triss [41]

Hi,

Let me help you with this problem.

$v = ( \frac{2 \times 1.5}{2} ) \times 3 \\ v = \frac{3}{2} \times 3 \\ v = 1.5 \times 3 \\ v = 4.5$

Answer: 4.5m3

Hope this helps.
r3t40

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Answer:

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