Question

WILL MEDAL AND FAN!!!!!
Hannah earned $1536 in 8 years on an investment at a 4% annual simple interest rate. How much was Hannah's investment?

A. $491.52

B. $4800

C. $3072

D. $768

Answer 1

Hello again

Answer 2

Hi!

Answer 3

Do you know the simple interest formula?

Answer 4

Nope...

Answer 5

I = the money created in dollars
P = the principal, which is the amount of money you started off with
R = the interest rate per year in decimal form
T = the time in years

Answer 6

Are you still there?

Answer 7

Yup

Answer 8

Do you want me to set it up for you?

Answer 9

Yes, please.

Answer 10

hold on let me get the answer first

Answer 11

Take your time :)

Answer 12

Nah I got it

Answer 13

Do you know where I got 0.04 from?

Answer 14

I think i'm missing something

Answer 15

From 4%?

Answer 16

yes you divide it by 100 to get the decimal form

Answer 17

I read the question wrong

Answer 18

Oh

Answer 19

I'm sorry I took algebra last year
trying to refresh my mind

Answer 20

It says she got 4% investment annually
and she did this for 8 years

Answer 21

That would be 32%

Answer 22

for the 8 years

Answer 23

So, 32% of 1536, which is 491.52?

Answer 24

no

Answer 25

Dangit

Answer 26

You have to get the interest rate in decimal form

Answer 27

I keep getting 491.52...Oh well, it's just 1 question, and i got all the others right.

Answer 28

I'm not sure it is 491.52
I remember taking this last year and I know i'm missing something important

Answer 29

They're asking how much she earned in total

Answer 30

She earned 1,526 dollars from the interest rate during 8 years

Answer 31

*1,536

Answer 32

0.32x = $1536
----- -----
0.32 0.32
-------------
x = 4800

Answer 33

Thanks! Glad you could help! I'll be sure to come back to this if i need you

Answer 34

Tell me if it's correct or wrong please

Answer 35

Thank god @tkhunny is here

Answer 36

I passed!

Answer 37

So it was correct?

Answer 38

Yup! 100%

Answer 39

How much was Hannah's investment?

I =Prt

Hannah earned $1536
I = 1536
1536= Prt

in 8 years
t = 8
1536= Pt(8)

on an investment at a 4% annual simple interest rate.
r = 4%= 0.04
1536 = P(0.04)(8)

Solve for P. The investment is most likely to be greater than the interest earnings.

Answer 40

Thank you @tkhunny but I got it :P

Answer 41

It helps to be systematic and organized. :-)

Answer 42

Ye i'm sorry for the confusion
I took this class last year and I forgot most of what I took