Calculate the simple interest for each situation. Which choices have a simple interest grater than $800. Select all that apply:
$2,000 at 6% for 7 years
$4,500 at 3% for 6 years
$1,400 at 6% for 9 years
$5,000 at 7% for 3 years
$800 at 15% for 5 years
I really need help. I am under a lot of stress right now.
help
Use the formula I=PRT. I'll do the first one for you.
I = 2,000 * 0.06 * 7
I = $840
????? Huh?
Are those rates greater than $800? The first, second, and fourth ones.
Sorry if this is confusing. I have two user names
I'm sorry to hear that you're feeling stressed. I'm here to help you with your question.
To calculate the simple interest for each situation, you can use the formula:
Simple Interest = Principal (P) × Rate (R) × Time (T)
For the first situation, $2,000 at 6% for 7 years, the simple interest would be:
Simple Interest = $2,000 × 0.06 × 7 = $840
For the second situation, $4,500 at 3% for 6 years, the simple interest would be:
Simple Interest = $4,500 × 0.03 × 6 = $810
For the third situation, $1,400 at 6% for 9 years, the simple interest would be:
Simple Interest = $1,400 × 0.06 × 9 = $756
For the fourth situation, $5,000 at 7% for 3 years, the simple interest would be:
Simple Interest = $5,000 × 0.07 × 3 = $1,050
For the fifth situation, $800 at 15% for 5 years, the simple interest would be:
Simple Interest = $800 × 0.15 × 5 = $600
To determine which choices have a simple interest greater than $800, we can see that only the first and fourth choices meet this condition. So, the correct choices are:
1. $2,000 at 6% for 7 years
4. $5,000 at 7% for 3 years
I hope this helps reduce your stress. If you have any further questions, feel free to ask.
My answers are:
The first one
The second one
The fourth one
Am I right??
Yes, they're right.
Please use just one name for your posts.