# Maths

posted by Ranya

Mrs jasmine Invested \$4000 in a building society which paid simple interest at a rate of 7.25% per annum to its investors. After 2 years, the rate was increased to 7.6% per annum. Find the amount she had T the end of 7 years

1. John

Do the first 2 years at the regular amount then ADD it to the final five years at the new amount. Both parts using the simple interest equation.

2. Henry

P1 = Po + Po*r*t = 4000 + 4000*0.0725*2 = \$4580 After 2 yrs.

P = Po + Po*r*t = 4580 + 4580*0.076*5 = Amt. after 7 yrs.

After 2 years, the account becomes a new account with an initial investment of \$4580 for 5 years.

3. Anonymous

6320.4

4. Anonymous

6100

5. Hanzalah

Interest before the rate was changed=4000x7.25x2/100
=\$580
Interest after the rate was changed=4000x7.6x5/100
=\$1520
Total Interest=\$1520+\$580
=\$2100
Total money Mrs. Jasmine has after 7 years=\$4000+\$1520
=\$6100

6. Hanzalah

The above question I answered had a typing mistake. The total money Mrs. Jasmine has after 7 years is=\$4000+\$2100
=\$6100

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