batmanmarie2004
17.12.2019 •
Mathematics
Tammi deposited $520 into a bank account that earned simple interest each year. after 5 years, she had earned $156 in interest.
if no money was deposited into or withdrawn from the account, what was the annual interest rate?
enter your answer in the box.
% / new questoin gloria deposited $500 into a bank account that earned 7.5% simple interest each year. she earned $225 in interest before closing the account.
if no money was deposited into or withdrawn from the account, for how many years was the money in the account?
round your answer to the nearest whole year.
enter your answer in the box.
years
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Ответ:
For Tammi it is 6% interest Rate.
For Gloria it is 6 Years.
Step-by-step explanation:
Tammi:
Principal = $520
Time = 5 Years
Interest = $156
Interest Rate = Interest / (Principal x Time)
Interest Rate = $156 / ($520 x 5)
Interest Rate = $156 / $2,600
Interest Rate = 0.06
Hence Interest Rate is 6%
Gloria:
Principal = $500
Interest Rate = 7.5%
Interest = $225
Time = Interest / (Principal x Interest Rate)
Time = $225 / ($500 x 0.075)
Time = $225 / $37.5
Time = 6 Years
Hence it will take 6 Years
Ответ:
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