Question

medal an fan

Answer 1

As incentive for Gretchen to save the two thousand five hundred dollars she recently inherited, her parents tell her that they will pay her ten percent simple annual interest on the amount that she saves. How much money will Gretchen have after ten years if she saves all of the money she inherited?

two thousand seven hundred eight dollars

two thousand seven hundred twenty-seven dollars

two thousand seven hundred seventy-eight dollars

five thousand dollars

Answer 2

simple interest, I = Principal,p*rate,r as a percent* time in years, t
percent means per 100
I = PRT/100
total amount after 10 years = initial amount + interest earned