Question

Marco deposited $500 in a savings account earning 4% interest over 5 years.

What was the total amount of interest earned at the end of 5 years?

A.
$40

B.
$50

C.
$100

D.
$200

Answer 1

4% interest mean that they have added 4% of 500 to the 500 you have.

Answer 2

4% of 500 is 500 times .04.

Answer 3

so you will take 500*.04 and then times it by 5 (5 years) and that will be your answer :)

Answer 4

200

Answer 5

nope,

Answer 6

umm y i did 500 times 0.4

Answer 7

500 times .04 is 20

Answer 8

no worries :) .4 is 40%. 4% is .04

Answer 9

thats not an answer

Answer 10

you have to times it by 5

Answer 11

ohh 100

Answer 12

good job

Answer 13

:)

Answer 14

Mary borrowed $11,000 at 5% interest for 4 years.

What was the total interest?

A.
$22

B.
$220

C.
$2,200

D.
$22,000

Answer 15

im going to work this one out see if i get it right okay

Answer 16

:) way to go

Answer 17

22,000

Answer 18

hmmm..did you do .5 instead of .05?

Answer 19

nope

Answer 20

okay when i do 11,000 times 0.5 i get 55,000

Answer 21

11,000 times 5 is 55,000

Answer 22

ether way i get the same answer

Answer 23

11,000 times .05 is 550

Answer 24

and then you'll do 550 times 4..do you follow that?

Answer 25

okay i see what i did but i still get 22,000

Answer 26

220

Answer 27

nope :)

11,000 at 5% for 4 years
means
11,000 times .05 times 4
and that is $2200 interest

Answer 28

I've got to go, sorry. Good luck

Answer 29

okay