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Nimfa-mama [501]
2 years ago
10

3. Michel invests $850 at 7%/a simple interest. How long will he

Mathematics
1 answer:
Kipish [7]2 years ago
5 0

~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\dotfill&\$200\\ P=\textit{original amount deposited}\dotfill & \$850\\ r=rate\to 7\%\to \frac{7}{100}\dotfill &0.07\\ t=years \end{cases} \\\\\\ 200=850(0.07)t\implies \cfrac{200}{850(0.07)}=t\implies \stackrel{\textit{about 3 years, 4 months and 10 days}}{3.36\approx t}

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We can automatically see that we are dealing with a percent decrease because we are going from a smaller to a bigger number. We need to first find what percent of 140the number 84 is. to do this we can set up the following equation:

140/84=100/x (this equation is basically saying if 140 is 100(%) what would 84 be?)

solving for x here gives us x = (84 X 100)/140 = 60, so 84 is 60 percent of 140 which means 140 decreased by 40 percent.

Let me know if I can clear anything else up.


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Step-by-step explanation:

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