I just need an equation for me to fill out please!
3. Each year on the same day, Susan deposits $275
into a savings account that earns simple interest at
a rate of 4.5%. She makes no withdrawals. In 5
years, how much interest does the account earn?
A $12.38
B $61.90
C $99.01
D $185.64
4. Luke can purchase a 12-pound item from several
different retailers. Which of the following is the
best buy?
A Buy online for $15 plus pay shipping and
handling costs of $0.79 per pound.
B Buy online for $17 plus pay shipping and
handling costs of $0.69 per pound.
C Buy at a local store where the item’s price is
$24.99, and use a $3-off coupon.
D Buy at a local store where the item’s regular
price is $22.50 and it is on sale for 10% of
3D is correct
4. but the best buy is usually considered to be the one with the lowest price, right?
Now go read Bartholomew and the Oobleck by Dr. Seuss.
This is a very strange bank. Using the formula I=Prt. we have
275*0.045*5 = 61.875 on the 1st year's deposit
275*0.045*4 = 49.5 on the 2nd deposit
and so on, giving
275*0.045*(5+4+3+2+1) = 275*0.045*15 = 185.625 total interest
Just compare the prices.
(A) 15+12*0.79
(B) 17+12*0.69
(C) 24.99-3.00
(D) 22.50 * 0.90
4 is D
And I will read that right away!
Oh and on number 4 letter D, I meant to put 10% off, and not of!
3. is D?
4.
A 24.48
B 25.28** (because it is the highest)
C 21.99
D 20.25
Please check @Oobleck
P.S. I love your name 😂
To find the answer to each question, we will need to use some equations and calculations.
Question 3:
The formula to calculate simple interest is:
Interest = Principal * Rate * Time
In this case, the principal (amount deposited by Susan each year) is $275, and the rate is 4.5% (or 0.045 as a decimal). The time is 5 years.
Plugging these values into the formula, we get:
Interest = $275 * 0.045 * 5
Now we can calculate the interest:
Interest = $61.88
So, the correct answer is B) $61.90 (rounded to the nearest cent).
Question 4:
To find the best buy for the 12-pound item, we need to compare the total costs for each option.
Option A:
Cost = $15 + ($0.79 * 12)
Cost = $15 + $9.48
Cost = $24.48
Option B:
Cost = $17 + ($0.69 * 12)
Cost = $17 + $8.28
Cost = $25.28
Option C:
Cost = $24.99 - $3
Cost = $21.99
Option D:
Cost = $22.50 - (10% * $22.50)
Cost = $22.50 - $2.25
Cost = $20.25
Comparing the costs, we can see that Option C has the lowest price at $21.99.
So, the correct answer is C) Buy at a local store where the item’s price is $24.99 and use a $3-off coupon.