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marshall27 [118]
4 years ago
10

Alex invested $400 in a CD that pays 3% simple interest, calculated semiannually. How much money will Alex earn in 2 years? A. $

74 B. $24 C. $54 D. $14
Mathematics
1 answer:
galina1969 [7]4 years ago
3 0
Simple interest is calculated using the formula
I = Prt . . . . . . . . . . P = principal, r = interest annual rate, t = time (years)
I = $400·0.03·2
I = $24

In 2 years, Alex will earn ...
   B. $24
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For the second equation, simply subtract x from both sides, so that x & y are on the same side of the equal sign :)

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Now, we have to multiply ALL of equation 2 by 2 so that both equations 1 & 2 have "2x" in them :)

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