Question

Help please no guessing please explain how to solve Will medal.

Julie earned simple interest on $8250 with an annual interest rate of 3.9% for 7 years. How much did she earn in interest? Round your answer to the nearest cent.

simple interest: I = P • r • t

Answer_______

Answer 1

@Zeronknight
@zaynab123
@kittiwitti1
@LoveIt
@ganeshie8
@Preetha

Answer 2

@surjithayer

Answer 3

Use the formula of
\(\text{ Simple Interest = Principal x Rate x Time}\)

Answer 4

t = time
r = rate
p = principal

so I = 8250 * 3.9 * 7.

Answer 5

Principal = 8250 (what you're starting with)
Interest = 0.039 (the decimal form of 3.9%)
Time = 7 years

Answer 6

P=$ 8250
r=3.9%\[=\frac{ 3.9 }{ 100 }=\frac{ 39 }{ 1000 }\]
t= 7 years
plug the values and calculate interest.

Answer 7

Thus you have
\(\large I = $8250 \times 0.039 \times 7\)

Answer 8

^^

Answer 9

so the answer 2252.25

Answer 10

Correct!

Answer 11

thanks can you help with two more

Answer 12

I'll try

Answer 13

With a principal investment of $25,000, which account will have the greatest value after 6.5 years?

simple interest: I = P • r • t
interest compounded annually is A = P (1 + r)t
interest compounded quarterly: A = P (1 + r/4 )4t


A.
2.6% with interest compounded quarterly

B.
3.2% in a simple interest account

C.
2.9% with interest compounded annually

D.
2.3% in a simple interest account

Answer 14

well what do you think?

Answer 15

use each of the answer choices' information.

a) 2.6% with interest compounded quarterly
A = P (1 + r/4 )4t
A = \(25000(1 + 0.026 \div 4)^{4(6.5)}\)
Solve this.

use the same approach by following the equation and replacing the numbers accordingly.

Answer 16

Wow thats a lot more easier than I thought,Just one more question and I'll be out of your hair.

Answer 17

ok

Answer 18

Skylar plans to use $3400 to open a savings account with an annual interest rate of 1.15%. How much more interest will he earn over 13 years if he chooses a compound interest account that compounds interest quarterly instead annually? Round your answer to the nearest cent.

interest compounded annually: A = P (1 + r)t
interest compounded quarterly: A = P (1 +r/4)4t

Answer 19

Just substitute the numbers into their respective places in the formula.

Principal = $3400
Interest Rate (in decimals) = 0.015
Time = 13 years

Answer 20

Then find which one will be the greater amount.

Answer 21

Because there is 4 quarters in one year that should give you an idea which one will be larger