Han earned $850 over the summer working odd jobs. He wants to put his money into a savings account for when he is ready to buy a car. His bank offers a simple interest account at 5%, how much interest will Han have earned after 2 years?
2 answers:
Answer:
85
Step-by-step explanation:
Answer:
85 in intreset and 935 totoal
Step-by-step explanation:
Answer:
A = $935.00
I = A - P = $85.00
Equation:
A = P(1 + rt)
Calculation:
First, converting R percent to r a decimal
r = R/100 = 5%/100 = 0.05 per year.
Solving our equation:
A = 850(1 + (0.05 × 2)) = 935
A = $935.00
The total amount accrued, principal plus interest, from simple interest on a principal of $850.00 at a rate of 5% per year for 2 years is $935.00.
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hope this helps :)
Answer:
Hope this is what you are looking for! :)
Geometric sequences go up due to a common ratio. Here the common ratio can be worked out by dividing a term by its previous term e.g term 2 divided by term 1.
Therefore the common ratio is 6.
