Express the given quantity in terms of the indicated variable.
The interest obtained after one year on an investment at 2 1/2% simple interest per year; x = number of dollars invested
To express the interest obtained after one year on an investment at 2 1/2% simple interest per year in terms of the variable x (number of dollars invested), we can use the formula:
Interest = Principal × Rate × Time
Here, the Principal represents the initial amount invested, the Rate represents the interest rate per time period, and the Time represents the duration of the investment.
In this case, the Principal is x dollars, the Rate is 2 1/2% (expressed as a decimal), and the Time is 1 year.
First, convert the percentage rate to a decimal by dividing it by 100:
2 1/2% = 2.5/100 = 0.025
Now, we can substitute these values into the formula:
Interest = x * 0.025 * 1
Simplifying further:
Interest = 0.025x
Therefore, the interest obtained after one year on an investment at 2 1/2% simple interest per year can be expressed as 0.025x.