Question

jennifer deposited $1,750 in savings account that earns 1.9% simple interest. How much interest has jennifer earned by the end of the first day?

Answer 1

@terenzreignz

Answer 2

1.9% of the initial amount :)

Answer 3

Huh ?

Answer 4

@terenzreignz

Answer 5

What is 1.9% of 1750 ?

Answer 6

33.25

Answer 7

Is that my answer ?

Answer 8

@terenzreignz

Answer 9

No.

Answer 10

what do i do next ?

Answer 11

Well, what does 1.9% mean, in decimal?

Answer 12

0.019

Answer 13

Then multiply that to your principal

Answer 14

multiply what ? 0.019x33.25

Answer 15

1.9% tends to be an annual rate

Answer 16

what do i need to multiply to get my answer ?

Answer 17

unless stated otherwise, interest rates are annual amounts.

Answer 18

@terenzreignz @amistre64

Answer 19

find the interest for the year and divide by 365 is my thought

Answer 20

\[I=Prt\]
\[I=Pr\frac{1}{365}\]

Answer 21

365*1.9%

Answer 22

what would my answer be ?

Answer 23

please ask questions about what has been posted if you do not understand it; as opposed to asking what the answer would be.

Answer 24

I already asked. What do i need to divide to get my answer . I already did step by step.

Answer 25

I didn't see 'day'
Sorry guys

Answer 26

Its fine

Answer 27

\[I=Pr\frac{1}{365}\]

Answer 28

0.00273973

Answer 29

1750(.019)/365 is not .00273...

Answer 30

lol all i did was 1/365 not the whole formula. Let me check

Answer 31

:)

Answer 32

0.09109589041

Answer 33

that looks better for the interest .. yes

Answer 34

Thank you

Answer 35

youre welcome