Get clear, concise, and accurate answers to your questions on IDNLearn.com. Ask your questions and receive detailed and reliable answers from our experienced and knowledgeable community members.
Sagot :
Amount while opening account at rate of 4% for 6 months and earn simple interest $37 is $1850.
As given,
Simple interest amount earned by Elsa = $37
Annual interest rate R= 4%
Time T =6 months
Let P be the principal amount she put while opening account
Simple interest = (P × R × T) / 100
⇒37 ={P × 4 × (6/12)}/100
⇒P =(37 × 100) / 2
= $1850
Therefore, amount while opening account at rate of 4% for 6 months and earn simple interest $37 is $1850.
The complete question is:
Elsa opens an account to save money for a family vacation. The account earns an annual interest rate of 4%. She earns $37 in simple interest after 6 months. How much money did she put in the account when she opened it?
Learn more about simple interest here
brainly.com/question/25845758
#SPJ4
Thank you for joining our conversation. Don't hesitate to return anytime to find answers to your questions. Let's continue sharing knowledge and experiences! IDNLearn.com is your go-to source for accurate answers. Thanks for stopping by, and come back for more helpful information.
