To be able to take her dream vacation, Isabel decides to stay for two years. She opens a savings account with $500. The account pays simple interest Addyson annual rate of 3%. She doesn’t make any more deposits. Answer the following questions. If necessary refer to the list of financial formulas.
A. How much total interest will Isabelle earn?
B. What will the total amount in the account be (including interest)?
A. To calculate the total interest earned, we can use the formula for simple interest:
Interest = Principal * Rate * Time
In this case, the principal is $500, the rate is 3%, and the time is 2 years.
Interest = $500 * 0.03 * 2
Interest = $30
Isabelle will earn a total interest of $30.
B. To calculate the total amount in the account (including interest), we can add the interest earned to the principal amount:
Total Amount = Principal + Interest
Total Amount = $500 + $30
Total Amount = $530
The total amount in the account will be $530.
How to find the area of a rectangular pyramid including where each part of the measurements are
To find the area of a rectangular pyramid, you will need measurements for the height, base length, and base width of the pyramid. Here are the steps to calculate the area:
1. Find the area of the base:
- Multiply the base length by the base width to find the area of the base.
2. Find the area of each triangular face:
- Multiply half the base length by the height to find the area of one triangular face.
- Multiply half the base width by the height to find the area of another triangular face.
- If the base length and base width are not equal, repeat this step for the remaining two triangular faces.
3. Find the total area:
- Add the area of the base to the sum of the areas of all triangular faces.
Here is the equation to calculate the total area of a rectangular pyramid:
Total Area = Area of the Base + 2 * Area of a Triangular Face
Note: If the base length and base width are equal, then you only need to calculate the area of one triangular face and multiply it by 4 instead of 2.
Make sure that all measurements are in the same unit (e.g., centimeters, inches, meters) before performing the calculations.
A. To calculate the total interest earned, we can use the formula for simple interest:
Interest = Principal * Rate * Time
In this case, the principal is $500, the rate is 3% (or 0.03), and the time is 2 years. Plugging these values into the formula:
Interest = $500 * 0.03 * 2
Interest = $30
Therefore, Isabel will earn a total of $30 in interest.
B. To calculate the total amount in the account, including interest, we can add the principal and the interest together:
Total amount = Principal + Interest
Total amount = $500 + $30
Total amount = $530
Therefore, the total amount in Isabel's account, including interest, will be $530.
To answer these questions, we'll need to use the formula for calculating simple interest:
Simple Interest = Principal Amount x Interest Rate x Time
Let's proceed with the calculations:
A. To calculate the total interest earned by Isabel, we can use the formula mentioned above. The principal amount is $500, the interest rate is 3% (or 0.03 as a decimal), and the time is 2 years:
Total Interest = Principal Amount x Interest Rate x Time
Total Interest = $500 x 0.03 x 2
Total Interest = $30
Therefore, Isabel will earn a total of $30 in interest.
B. To calculate the total amount in the account (including interest), we need to add the principal amount to the total interest earned.
Total Amount = Principal Amount + Total Interest
Total Amount = $500 + $30
Total Amount = $530
Therefore, the total amount in Isabel's savings account after two years will be $530.
Note: In this case, since Isabel didn't make any additional deposits, the interest earned only applies to the initial $500 deposit.