calculate the interest earned in 1 year on $2000 at 7%.
how would i solve this by using a linear system?
2000 * 0.07 = ?
How do you know when to divide and when to multiply?
You can tell by estimating your answer. You know that 10 percent of 2,000 is 200. Your percentage is less than 200.
2000/0.07 = 28,571.43
2000 * 0.07 = 140
You want to know what 7% of 2000 is. "Of" always means to multiply.
I don't know. Please click Post a New Question and ask your question.
To calculate the interest earned in 1 year on $2000 at an interest rate of 7%, we can use the formula for simple interest:
Interest = Principal * Rate * Time
Here:
Principal = $2000
Rate = 7% = 0.07 (since the rate is given as a percentage, we need to divide it by 100 to convert it to a decimal)
Time = 1 year
Let's plug these values into the formula:
Interest = $2000 * 0.07 * 1
Now, we can calculate the interest earned:
Interest = $140
Therefore, the interest earned in 1 year on $2000 at 7% would be $140.