Dawnie deposited $350 in a savings account earning 2% interest over 3 years.
What was the total amount of interest earned at the end of 3 years?
A.
$420
B.
$210
C.
$42
D.
$21
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OpenStudy (anonymous):
@bohotness
OpenStudy (anonymous):
@TheEdwardsFamily
OpenStudy (anonymous):
i think it is D
OpenStudy (anonymous):
@AlexandervonHumboldt2
OpenStudy (texaschic101):
I = PRT (Interest = principle * rate * time) -- turn rate to decimal
I = (350)(.02)(3)
I = you can do the math for this...just multiply
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OpenStudy (anonymous):
ok then it is 420
OpenStudy (anonymous):
?
OpenStudy (texaschic101):
no...it is not....do not forget there is a decimal in there...try multiplying again
OpenStudy (anonymous):
ok it is 2.1?
OpenStudy (anonymous):
or.21
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OpenStudy (texaschic101):
350 x 0.02 x 3 = 21
OpenStudy (anonymous):
right
OpenStudy (anonymous):
ok ue deposited $3000 in a savings account earning 2% interest over 8 years.
What was the total interest Sue earned? i need to ask if this answer is rong 120
OpenStudy (anonymous):
because some one said it was i do not think it is right
OpenStudy (texaschic101):
I = PRT
I = (3000)(.02)(8)
I = 480
it is 480
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OpenStudy (anonymous):
ok thanks so much if you want to help me more then say so but i have 2 more after this oneKatie invested $1200 at 8.5% interest. She earned $612 interest at the end of y years.
What is the value of y?
A.
18
B.
12
C.
6
D.
3
OpenStudy (anonymous):
i think it is 12
OpenStudy (texaschic101):
I would but I have to go somewhere now. I am so sorry...I lost track of time....crap...I am gonna be late. Again...so sorry