Question

MEDAL REWARDED!!
Penny's savings account pays an interest rate of 3%. If her balance is $10,100 at the end of the year , what will her balance be including the interest she earned?
A. $10,403.00
B. $13,130.00
C. $23,300.00
D. $30,300.00

Answer 1

wouldnt my answer be D?

Answer 2

@e.cociuba

Answer 3

hmm assuming the interest rate pays annually
she gets her balance PLUS her interest

Answer 4

yea so wouldnt that make my answer D?

Answer 5

let's see D

30,300.00 - 10,100 = 20,200

20,200 is twice as much as 10,100, that'be an interest rate of twice as much, or a whooping 200%

heck, if a bank pays that much, sign me in

Answer 6

so is D correct or no lo?

Answer 7

D has an interest rate of 200%, no 3%
so..... no dice on that one

her balance plus her interest

what's her interest? well, 3% of 10,000, \(\bf 3\%\textit{ of } 10,000\implies \cfrac{3}{100}\times 10,100\)

Answer 8

mm... have a typo there, anyhow \(\bf 3\%\textit{ of } 10,100\implies \cfrac{3}{100}\times 10,100\)

Answer 9

i get 303

Answer 10

yeap, that's her earned interest

Answer 11

okay so now what? how do i find my answer than?

Answer 12

well.. her balance plus THAT

Answer 13

oh it would be A!

Answer 14

:)

Answer 15

10,100 + 303 = 10,403