Asked by Katy

Monica had a saving a account which paid her an interest rate of 4%. After she had this account for 12 years, she had received $192 in interest. How much money had she put into the account at the beginning of the 12 years?

Please help me answer this question step by step

Answers

Answered by Ms. Sue
I = prt

192 = P * 0.04 * 12

192 = 0.48p

400 = p
Answered by Katy
Thank you
Answered by Katy
Dr. Morton puts $5000 in the bank and left it there for 6 months. What simple interest rate she needs to have in order to have made $50 at then end of 6 months?
Answered by Ms. Sue
You are welcome.
Answered by Ms. Sue
Use the formula I posted above.

I'll be glad to check your answer.
Answered by Katy
I=5000
P=50
R=?
T= 6
Answer... About 16 or 17%
Answered by Ms. Sue
The time is only half a year so use 0.5 for time.

Answered by Katy
Answer 200
Answered by Ms. Sue
You're looking for the rate.

I = Prt
50 = 5,000 * r * 0.5

50 = 2500r

50 / 2500 = r

To find the percent, multiply your decimal answer by 100

Answered by Ms. Sue
Yay! 2% is right.
Answered by Katy
Find the amount of interest Nina's saving account will earn after 3 years if her initial deposit was $900 with an 8% simple interest rate.
I=prt
I=900(0.08)(3)
I=216
Answered by Ms. Sue
Right! :-)
Answered by Katy
Cary puts $400 he earned from mowing lawns in the bank for two years at an interest rate of 5%. What would be the total amount of money that he would have in the bank be at the end of two years.
I=prt
I=400(0.05)(2)
I=40
Answered by Ms. Sue
He's earned $40 in interest.

Now, please, answer the question.
Answered by Katy
Am suppose to find the compound interest if so could give me the formula
Answered by Katy
4000(1+0.05)^2
Answered by Katy
Answer 4410
Answered by Ms. Sue
This is the question you should answer.

<b> What would be the total amount of money that he would have in the bank be at the end of two years. </b>
Answered by Katy
4410+40=4450
Answered by Ms. Sue
400 + 40 = ?

Answered by Katy
440
Answered by Ms. Sue
Whew! You got it! :-)
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