To calculate the weighted dollar amount of the savings account, we need to use the amount invested in the savings account along with its rate of return (ROR). Here is the step-by-step explanation:
1. Identify the Amount Invested and Rate of Return:
- Amount Invested in the Savings Account: \[tex]$3,200
- Rate of Return (ROR) for the Savings Account: 2.1%
2. Convert the Rate of Return to Decimal Form:
- The ROR in percentage form is 2.1%.
- To convert this to decimal form, divide by 100: \( 2.1\% = \frac{2.1}{100} = 0.021 \).
3. Calculate the Weighted Dollar Amount:
- Multiply the amount invested by the rate of return in decimal form:
\[
\text{Weighted Dollar Amount} = \text{Amount Invested} \times \text{Rate of Return}
\]
- So, the calculation will be:
\[
\text{Weighted Dollar Amount} = 3200 \times 0.021
\]
- Performing the multiplication:
\[
3200 \times 0.021 = 67.2
\]
The weighted dollar amount of the savings account is \(\$[/tex]67.20\).
Given the options:
- [tex]\(-\$ 58.63\)[/tex]
- [tex]\(\$ 58.63\)[/tex]
- [tex]\(-\$ 67.20\)[/tex]
- [tex]\(\$ 67.20\)[/tex]
The correct answer is [tex]\(\$ 67.20\)[/tex].
