jv3910488
contestada

Drag each tile to the correct box. Not all tiles will be used.
Calculate the interest earned on each simple-interest account given the original principal, annual interest rate, and length of time th
was held. Match each amount to the corresponding account description.
$91.52
$94.50
$92.40
$82.35
$92.63
$94.71
$880 at 5.25% for 2 years
$675 at 3.5% for 4 years
$770 at 4.19 for 3 years

Respuesta :

opudodennis

Answer:

P=$880,I=$92.40

P=$675,I=$94.50

P=$770,I=$96.79

Step-by-step explanation:

Simple interest rate is the interest eared on principal amount only over time:

[tex]I=PRT[/tex]

#$880 at 5.25% for 2 years

[tex]I=PRT, P=880, R=0.0525, T=2\\\\=880\times 0.0525\times 2\\\\=92.4[/tex]

Hence, the interest earned is $92.40

#$675 at 3.5% for 4 years:

[tex]I=PRT, P=675, R=0.035, T=4\\\\=675\times 0.035\times 4\\\\=94.5[/tex]

Hence, the interest earned is $94.50

#$770 at 4.19 for 3 years:

[tex]I=PRT, P=770, R=0.0419, T=3\\\\=770\times 0.0419\times 3\\\\=96.79[/tex]

Hence, the interest earned is $96.79

MrRoyal

Simple interest is used to determine the interest on loans

The formula to calculate simple interest is:

[tex]I = PRT[/tex]

Where

  • I represents the simple interest
  • P represents the principal amount
  • R represents the rate (in percentage)
  • T represents the time (in years)

(a) $880 at 5.25% for 2 years

The simple interest is:

[tex]I = 880 \times 5.25\% \times 2\\[/tex]

[tex]I = 92.4[/tex]

Hence, the simple interest is $92.40

(b) $675 at 3.5% for 4 years

The simple interest is:

[tex]I = 675 \times 3.5\% \times 4[/tex]

[tex]I = 94.5[/tex]

Hence, the simple interest is $94.50

(c) $770 at 4.19 for 3 years

The simple interest is:

[tex]I = 770 \times 4\% \times 3[/tex]

[tex]I = 92.4[/tex]

Hence, the simple interest is $92.40

Read more about simple interest at:

https://brainly.com/question/1115815

Otras preguntas