Question

Could you please help me with this @ganeshie8 ??? I need help to figure this out :D thx!

Based on simple interest, find the total amount saved or owed.

principal = $1056; rate = 3.75%; time = 6 years

Answer 1

so you have deposited $1056 in bank

Answer 2

and bank gives 3.75% interest on ur money every year

Answer 3

use below formula for total interest u wud get :-

\(\large Total ~ Interest = \frac{P*R*T}{100}\)

Answer 4

\(\large Total ~ Interest = \frac{1056~*~3.75~*~6}{100}\)

Answer 5

simplify, wat do u get ?

Answer 6

@ganeshie8 now what?

Answer 7

im not sure i understand ur table above :/

Answer 8

\(\large Total ~ Interest = \frac{1056~*~3.75~*~6}{100}\)

\(\large Total ~ Interest = 237.6 \)

Answer 9

thats the total Interest you wud get in 6 years okay ?

Answer 10

ok :( I still don't get it D;

Answer 11

add that interest to principal,
total money in bank = 1056 + 237.6
= 1293.6

Answer 12

how did u get 237.6?

Answer 13

i have used calculator :

http://www.wolframalpha.com/input/?i=%5Cfrac%7B1056*3.75*6%7D%7B100%7D

Answer 14

:)

Answer 15

@ganeshie8 that's not a possible answer

Answer 16

oh u have options ha ?

Answer 17

we must have done mistake somewhere... check once :)

Answer 18

yes hehe

Answer 19

lol wat are the options

Answer 20

ugh! I lost the probalm bc my internet went out lol...but heres one like it
_________________________________________________________________________

Find the simple interest.

principal = $10,400; rate = 12.5%; time = 11 years









A.
$1300







B.
$9152







C.
$11,700







D.

$14,300

Answer 21

sorry for all the spacing in-between lol...I copied and pasted it d:

Answer 22

Use the same formula

Answer 23

\(\large Simple ~interest = \frac{P~*~R~*~T}{100}\)

Answer 24

\(\large Simple ~interest = \frac{10400~*~12.5~*~11}{100}\)

Answer 25

simplify,
you would get 14,300 :

http://www.wolframalpha.com/input/?i=10400*12.5*11+%2F100

Answer 26

OH!!! I get it now!!!!!!! you times them all then just divide by 100! :D :D :D!! THX!

Answer 27

yup :)

Answer 28

...ok it didn't work....I tried it again.. with another problem.. and the answer I got was not a possible anwer.. :(

Answer 29

whats the question ?

Answer 30

OH!! its a diff questions.. the first was
1.Find the simple interest.
2.Based on simple interest, find the total amount saved or owed

Answer 31

Based on simple interest, find the total amount saved or owed.

principal = $1056; rate = 3.75%; time = 6 years









A.
$1293.60







B.
$1452.00







C.
$1689.00







D.
$3432.00

Answer 32

find the simple interest first

Answer 33

simple interest = (1056 * 3.75 * 6) / 100
= ?

Answer 34

=23,760

Answer 35

Nope

Answer 36

:(

Answer 37

you should get "237.6"

http://www.wolframalpha.com/input/?i=+%281056+*+3.75+*+6%29+%2F+100+

Answer 38

thats the simple interest

Answer 39

=237.6...ohh I was typing when u sent that...I forgot to divide by 100

Answer 40

:)

Answer 41

total money saved = 1056 + 237.6
= ?

Answer 42

=1293.6?

Answer 43

so..A!

Answer 44

You got it !

Answer 45

YAY!

Answer 46

good job :)

Answer 47

:D
hwo about this one...how do I do it?

The simple interest on an investment of $2000 for one year is $110.

What is the interest rate?









A.
0.0055%







B.
0.055%







C.
0.55%







D.
5.5%

Answer 48

use te same formula,
but this time u need to solve for \(R\)

Answer 49

I = P*T*T/100

Answer 50

110 = 2000*1*R/100

Answer 51

solve R