Solve: 1. With an annual interest rate of 4%, an account earned $300 of simple interest...

 

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Solve: 1. With an annual interest rate of 4%, an account earned $300 of simple interest in one year. How much money was originally deposited in the account? 2. If an investment of $2,500 accumulate $460 of interest in the account after 3 years, what was the annual simple interest rate on the savings account? 3. If a saving account of $10,000 accumulates $900 of interest in the account after 2 years, what was the annual simple interest rate on the savings account? 4. Ali got a 6-month loan of $1500 At the end of 6 months, she received a $209 simple interest. What rate of interest did the he pays? Solve: 1. With an annual interest rate of 4%, an account earned $300 of simple interest in one year. How much money was originally deposited in the account? 2. If an investment of $2,500 accumulate $460 of interest in the account after 3 years, what was the annual simple interest rate on the savings account? 3. If a saving account of $10,000 accumulates $900 of interest in the account after 2 years, what was the annual simple interest rate on the savings account? 4. Ali got a 6-month loan of $1500 At the end of 6 months, she received a $209 simple interest. What rate of interest did the he pays?

Answer rating: 100% (QA)

Answer 1 Annual interest rate R 4 Time in years T 1 Interest I 300 Money Invested Princ... View the full answer