Question

A bank deposit yields $802.50 in interest every year. How many years will it take to yield 6.42×10^4
dollars? Write the answer in scientific notation.(1 point)
Responses

1.25×102
1.25 times 10 squared

8×10^1

Answer 1

To find out how many years it will take for a bank deposit that yields $802.50 in interest every year to yield \(6.42 \times 10^4\) dollars, you can set up the following equation:

\[
\text{Years} = \frac{\text{Total Interest}}{\text{Annual Interest}} = \frac{6.42 \times 10^4}{802.50}
\]

Now, calculate the number of years:

1. First, simplify \(6.42 \times 10^4\):

\[
6.42 \times 10^4 = 64200
\]

2. Now, divide by the annual interest:

\[
\text{Years} = \frac{64200}{802.50} \approx 80
\]

3. To express 80 in scientific notation, we can write it as:

\[
8.0 \times 10^1
\]

Therefore, the correct response is:

**\(8 \times 10^1\)**