1. Juan deposited $200 in a savings account earning 3% interest over 2 years. What was the total amount of interest earned after 2 years?
$12
$24
$120 ( my answer)
$240
2. Mary borrowed $11,000 at 5% interest for 4 years. What was the total interest?
$22
$220
$2200 (my answer)
$22,000
3. Suzanne deposited $2500 in a savings account earning 3.5% interest. What was the total interest earned after 6 years?
$52.50
$450
$525 (my answer)
$4500
4. Simon invested $1550 at 6.5% interest. He earned $302.25 interest after t years. What is the value of t?
1
3 (my answer)
6
9
5. Maria earned $126 in interest from her savings account. If she invested $450 for 7 years, what was the interest rate?
3.5%
4% (my answer)
4.5%
5%
All of your answers are right except for # 1.
number one is A:12
i know because i am in k-12
I know you are cheating joe and after all these years i fnially find out you are going to pay for this joe!!!!
What is the percent of increase from 50 to 90?
1. To calculate the total amount of interest earned after 2 years, you can use the formula: Interest = Principal x Rate x Time. In this case, the principal is $200, the rate is 3% (or 0.03 in decimal form), and the time is 2 years. Plugging these values into the formula, we get:
Interest = $200 x 0.03 x 2 = $12. Therefore, the correct answer is $12.
2. To find the total interest, you can use the formula: Interest = Principal x Rate x Time. In this case, the principal is $11,000, the rate is 5% (or 0.05 in decimal form), and the time is 4 years. Plugging these values into the formula, we get:
Interest = $11,000 x 0.05 x 4 = $2,200. Therefore, the correct answer is $2,200.
3. To calculate the total interest earned after 6 years, you can use the formula: Interest = Principal x Rate x Time. In this case, the principal is $2,500, the rate is 3.5% (or 0.035 in decimal form), and the time is 6 years. Plugging these values into the formula, we get:
Interest = $2,500 x 0.035 x 6 = $525. Therefore, the correct answer is $525.
4. To find the value of t, you can rearrange the formula Interest = Principal x Rate x Time to solve for Time. In this case, the principal is $1,550, the rate is 6.5% (or 0.065 in decimal form), and the interest is $302.25. Plugging these values into the formula and rearranging, we get:
Time = Interest / (Principal x Rate) = $302.25 / ($1,550 x 0.065) ≈ 3. Therefore, the correct answer is 3.
5. To find the interest rate, you can rearrange the formula Interest = Principal x Rate x Time to solve for Rate. In this case, the principal is $450, the interest is $126, and the time is 7 years. Plugging these values into the formula and rearranging, we get:
Rate = Interest / (Principal x Time) = $126 / ($450 x 7) ≈ 0.04. Therefore, the correct answer is 4%.