Answer:answer to 9:$1,025.00 answer to 10:$243.90 answer to 11:$1,025.15
Step-by-step explanation:
explanation to 9:First, converting R percent to r a decimal
r = R/100 = 7%/100 = 0.07 per year.
Solving our equation:
A = 500(1 + (0.07 × 15)) = 1025
A = $1,025.00
The total amount accrued, principal plus interest, from simple interest on a principal of $500.00 at a rate of 7% per year for 15 years is $1,025.00.explanation to 10:First, converting R percent to r a decimal
r = R/100 = 7%/100 = 0.07 per year.
Solving our equation:
P = 500 / ( 1 + (0.07 × 15)) = 243.90243902439
P = $243.90
The principal investment required to get a total amount, principal plus interest, of $500.00 from simple interest at a rate of 7% per year for 15 years is $243.90. explantion to 11:First, converting R percent to r a decimal
r = R/100 = 7%/100 = 0.07 per year.
Solving our equation:
A = 500(1 + (0.07 × 15)) = 1025
A = $1,025.00
The total amount accrued, principal plus interest, from simple interest on a principal of $500.00 at a rate of 7% per year for 15 years is $1,025.25.
