answer these questions
Mr. Jenkins deposited $1,250 into an account. He made no additional deposits or withdrawals. Mr. Jenkins earned 4.25% annual simple interest on the money in the account.
What was the balance in dollars and cents in Mr. Jenkins's account at the end of 4 years?
Question 12 options:
$212.50
$1,462.50
$1,250
$425.00
Question 13 (1 point)
Tamara invested $15,000 in an account that pays 4% annual simple interest. Tamara will not make any additional deposits or withdrawals. How much interest will Tamara earn on her investment at the end of 3 years?
Question 13 options:
$1,800
$600
$450
$1,873
Question 12:
At the end of 4 years, the balance in Mr. Jenkins's account would be:
$1,250 + ($1,250 * 0.0425 * 4) = $1,462.50
Therefore, the correct answer is: $1,462.50
Question 13:
The interest Tamara will earn on her investment at the end of 3 years would be:
$15,000 * 0.04 * 3 = $1,800
Therefore, the correct answer is: $1,800