Question

Please help and go through ll steps/show work...pretty please?

Joanna invests her $5,000 bonus into a high yield account that earns 7.6% simple
interest. She wants to buy a Burmese Rabbit Hound with the money. The
breeder told her that a puppy would cost $5,500. How long will Joanna have to
wait before she has $5,500 in her savings account?

Answer 1

Simple Interest: I = Prt

Cost - Savings = Interest
5500 - 5000 = 500

500 = 5000*0.076*t

Solove for t.

The hard part is translating sentences to equations or expressions.

Answer 2

so 380t=500
divide 380 by both sides and t=1.32?

Answer 3

how many years would that translate to?

Answer 4

That is years.

500*0.076*1 = 380 -- One year!
500*0.076*2 = 760 -- Two years!

Answer 5

thought i was suppose to divide?

Answer 6

can you show the work and the answer?
is it a fraction like 1 1/3 years or 16 months ?

Answer 7

I'm sorry I am still confused

Answer 8

You did. I'm just trying to convince you that 't' is in years. If I were in a classroom, I would have walked over to teh other side of the room and my examples would not have been confusing.

Answer 9

500/380 = 1.3157894736842105263157894736842
1 Year 3 Months 3 Weeks 2 Days 0 Hours 37 Minutes 54 Seconds

It's all the same. Why does anyone care what form you put it in?

Answer 10

i know t is time or years but how does 1.32 convert to years?

Answer 11

I'd say that it's all the same too but my instructor is very very picky
she will find anything to knock points off

Answer 12

lol

Answer 13

I was just wondering because if there are 12 months in a year .3 is not 3 months its less?

Answer 14

Tough call. You just have to come to grips with t in years.

If you get t = 1, that means one year.
If you get t = 5, that means 5 years.
If you get \(t = \sqrt{5}\), that means t = 2.23608 or so years.

1.31579 Years = 1 Year and Change

Subtract the whole year.

0.31579 Years

Multiply by 12, because there are 2 months in a year.

0.31579*12 = 3.78948 Months = 3 Months and Change

Subtract the Whole Months

0.78948 Months

Multiply by 25/6, because there is an average of \(4\dfrac{1}{6}\) weeks in the 12 months of the calendar.

0.78948 * (25/6) Weeks = 3.2895 Weeks = 3 Weeks and Change

You just need the conversion factors.

Answer 15

thanks for explaining it

Answer 16

Of course, I meant "because there are 12 months in a year"