Posted by **Tanisha** on Tuesday, April 14, 2009 at 9:24pm.

Find the simple interest.

$900 deposited at an interest rate of 3% for 5 years.

$1,348 deposited at an interest rate of 2.5% for 18 months.

- Math Pre Algebra -
**Reiny**, Tuesday, April 14, 2009 at 9:55pm
simple interest = principal x rate x time

for the first one:

interest = 900(.03)(5) = 135

do the second one the same way, use 18/12 for the time.

- Math Pre Algebra -
**Tanisha**, Tuesday, April 14, 2009 at 10:11pm
so the answer or the first one is 135 and im not supposed to add 900 to 135?

- Math Pre Algebra -
**Reiny**, Tuesday, April 14, 2009 at 10:15pm
it just asked for the interest

If you add the 135 to the original 900 you would have the "amount"

- Math Pre Algebra -
**Tanisha**, Tuesday, April 14, 2009 at 10:16pm
oh ok thank you

- Math Pre Algebra -
**Tanisha**, Tuesday, April 14, 2009 at 10:19pm
for the second one do i do

1348(0.0025)(1.5)= 5

- Math Pre Algebra -
**Reiny**, Tuesday, April 14, 2009 at 11:05pm
small slip-up

2.5% = .025 not .0025 like you have

interest = 1348(.025)(1.5) = 50.55

(love to have a loan of %1348 where I would only pay $5 in 1 1/2 years)

## Answer This Question

## Related Questions

- Pre-Algebra help PLZ!! - Hassan deposited $7,500 into a bank account. At the end...
- math - Rachel deposited $6,004 in a savings account with simple interest. Three ...
- simple interest - A total of $8000 is deposited into two simple interest ...
- math - Kendra deposited a total of $9,000 between two saving accounts bearing ...
- algebra - Hassan deposited $7,500 into a bank account. At the end of 3 years, ...
- algebra - A total of $6200 is deposited into two simple interest accounts. On ...
- Math - Pre Algebra - Simple and Compound Interest Find the simple interest. ...
- Business Math icom 1 - Find the ordinary interest in a loan of Rs.2600 at 10 % ...
- damon i need your help again - Julie deposited $300 into a simple interest ...
- Algebra( check my answers) - 1. Juan deposited $200 in a savings account earning...

More Related Questions