Question

Find the missing values in each row. Use the percent equation. A: Principal: $100 Interest rate: 5% Time in years: 3 Interest earned: B: Principa;" $500 Interest rate: 4% Time in years: interest earned: $20 C: Principal: Interest rate:10%% Time in years: 7 Interest earned:$35 D: Principal: $200 Interest rate: Time in years:2 Interest earned: $6

Answer 1

Answer:

A.) 15

B.) 1 year

C.) $50

D.) 1.5%

Step-by-step explanation:

The percentage equation goes thus:

Interest earned = principal * rate * time

A)

Principal: $100 Interest rate: 5% Time in years: 3 Interest earned

Interest earned = $100 * 0.05 * 3

Interest earned = $15

B.)

Principa;" $500 Interest rate: 4% Time in years: interest earned: $20

Interest earned = principal * rate * time

20 = 500 * 0.04 * time

20 = 20 * time

Time = 20 / 20 = 1

Time = 1 year

C.)

Principal: Interest rate:10% Time in years: 7 Interest earned:$35

Interest earned = principal * rate * time

$35 = principal * 0.1 * 7

$35 = principal * 0.7

Principal = $35 / 0.7

Principal = $50

D.)

Principal: $200 Interest rate: Time in years:2 Interest earned: $6

Interest earned = principal * rate * time

$6 = $200 * rate * 2

$6 = $400 * rate

Rate = $6/$400

Rate = 0.015 = 1.5%