Answered

IDNLearn.com offers a unique blend of expert answers and community insights. Get prompt and accurate answers to your questions from our community of knowledgeable experts.

Find the total balance of each investment account earning simple annual interest.

A: $624 at 5% for 3 years
B: $4,120 at 7% for 18 months
C: $900 at 3.1% for 6 months
D: $275 at 4.8% for 8 years

Sagot :

Answer:

b

Step-by-step explanation:

cause it is b

YoBudidn

You should remember the formula: Interest = P * R * T /100

Apply it in every part.

A) I = 624 * 5 * 3 / 100

I = 9360/100

I = 93.60

So, Total amount = 93.60 + 624 = $717.60

B) I = 4120 * 7 * 3 / 2*100

I = 86520 / 200

I = 432.60

So, Total amount = 432.60 + 4120 = $4552.60

C) I = 900 * 3.1 * 1 / 2 * 100

I = 2790 / 200

I = 13.95

So, Total Amount = 13.95 + 900 = $913.95

D) I = 275 * 4.8 * 8 /100

I = 10560 / 100

I = 105.60

So, Total amount = 105.60 + 275 = $380.60

Hope this helps

Thank you for being part of this discussion. Keep exploring, asking questions, and sharing your insights with the community. Together, we can find the best solutions. Your search for solutions ends here at IDNLearn.com. Thank you for visiting, and come back soon for more helpful information.