A bank deposit of $987 paid $29.61 in interest. What was the percentage of interest paid?(1 point)
Responses
3%
3%
30%
30%
0.03%
0.03%
0.3%
The answers are b c c c b
* <---- except 2 but hope this helps!!
The percentage of interest paid can be calculated by dividing the interest amount by the initial deposit and then multiplying by 100.
(29.61 / 987) * 100 = 2.998
Rounded to two decimal places, the percentage of interest paid is approximately 3%. Therefore, the correct answer is 3%.
To calculate the percentage of interest paid, divide the amount of interest ($29.61) by the amount of the bank deposit ($987). Then, multiply the result by 100 to convert it to a percentage.
So, the calculation would be: (29.61 / 987) * 100.
Performing the calculation, we get: (0.02996) * 100 = 2.996.
Rounded to the nearest whole number, the percentage of interest paid is 3%.
To find the percentage of interest paid, we need to divide the amount of interest by the total deposit and then multiply by 100.
First, let's set up the equation:
Interest / Total deposit = Percentage of interest paid
In this case, the interest is $29.61 and the total deposit is $987.
So, we have:
29.61 / 987 = Percentage of interest paid
To solve for the percentage, divide 29.61 by 987:
29.61 / 987 ≈ 0.029989899
To convert this decimal to a percentage, multiply by 100:
0.029989899 * 100 ≈ 2.9989899
Rounded to the nearest whole number, the percentage of interest paid is approximately 3%.
Therefore, the correct answer is:
3%