Monica had a saving a account which paid her an interest rate of 4%. After she had this account for 12 years, she had received $192 in interest. How much money had she put into the account at the beginning of the 12 years?

Please help me answer this question step by step

Dr. Morton puts $5000 in the bank and left it there for 6 months. What simple interest rate she needs to have in order to have made $50 at then end of 6 months?

I = prt

192 = P * 0.04 * 12

192 = 0.48p

400 = p

Thank you

You are welcome.

Use the formula I posted above.

I'll be glad to check your answer.

I=5000

P=50
R=?
T= 6
Answer... About 16 or 17%

The time is only half a year so use 0.5 for time.

Answer 200

You're looking for the rate.

I = Prt
50 = 5,000 * r * 0.5

50 = 2500r

50 / 2500 = r

To find the percent, multiply your decimal answer by 100

Yay! 2% is right.