Bert is planning to open a savings account that earns 1.6% simple interest yearly. He wants to earn exactly $192 in interest after 2 years. How much money should he deposit?

Question

anonymous · Answer

will give a medal!!!

pixiedust1 · Answer

Okay!  The formula for simple interest is Investment Amount*Time*Percent=Interest

n can represent the amount of the original investment (since we do not know it)

So, its
n*2*0.016=192

Now, let's do some guess and check for the value of n.  :D

(I did this work elsewhere, so I'll show you my answer after guessing and checking.)

Let's try $6000

6000*2*0.016=$192

Therefore, Bert will have to invert $6000 to get $192 simple interest after 2 years at 1.6%

anonymous · Answer

thanks and also 2. Mr. Smith lives in State Line City on the border of two states. He buys a CD player for $86.29 in the state with 6% sales tax. He then crosses the state line and buys 7 CDs at $15.49 each in the state that has 7% sales tax. How much does he spend in all?

anonymous · Answer

my chios are$108.04
$207.49
$91.47
$199.90

pixiedust1 · Answer

Okay!  Here goes

Let's figure out for the $86.29 in the state with 6% sales tax.  

To find the tax, we multiply

86.39*0.06=

pixiedust1 · Answer

What does that equal?

anonymous · Answer

5.1774

pixiedust1 · Answer

I have to go soon, so I'm just gonna finish this up for you.

86.39*0.06=5.17 in tax
Now, we add the tax to the purchase price.  
86.39*5.17=$91.46 for the cd player in the state with 6% sales tax
Now, let's do the other state. 

Let's see how much he's paying for 1 cd with tax.
15.49*0.07=$1.08 in tax per cd
Now, we add the tax amount in for the 1 cd.
15.49+1.08=$16.57 per 1 cd
Now, let's multiply the amount per cd plus tax by the 7 cds

16.57*7=$115.99 for the 7 cds

Now, we know the player was 91.46 and the CD was 115.99

So, 115.99+91.46=$207.99 for everything

anonymous · Answer

The price of a jacket is initially marked at $39.99. The sign above the rack says the jacket is 20% off. Sales tax is 7.25%. What is the total cost of the jacket?

pixiedust1 · Answer

39.99*0.20=7.99
39.99-7.99=32
32*0.0725=$2.32
32+2.32=$34.32

pixiedust1 · Answer

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