Question
Kyle borrowed $3400 with an annual simple interest rate of 8% for 9 months.
Which formula is set up to correctly calculate the amount of simple interest Kyle will owe?
(1 point)
Responses
I = 3400 • 8 • 9
I = 3400 • 8 • 9
I = 3400 • .08 • 9
I = 3400 • .08 • 9
I = 3400 • .08 • .75
I = 3400 • .08 • .75
I = 3400 • 8 • .75
I = 3400 • 8 • .75
Convert 9.5% into decimal form.(1 point)
Responses
0.95
0.95
950
950
9.5
9.5
0.095
Kyle borrowed $3400 with an annual simple interest rate of 8% for 9 months. Calculate the amount of interest Kyle will owe.
*Convert % into decimal form; convert months into years
(1 point)
Responses
$204
$204
$244,800
$244,800
$20,400
$20,400
$2,448
$2,448
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Which formula is set up to correctly calculate the amount of simple interest Kyle will owe?
(1 point)
Responses
I = 3400 • 8 • 9
I = 3400 • 8 • 9
I = 3400 • .08 • 9
I = 3400 • .08 • 9
I = 3400 • .08 • .75
I = 3400 • .08 • .75
I = 3400 • 8 • .75
I = 3400 • 8 • .75
Convert 9.5% into decimal form.(1 point)
Responses
0.95
0.95
950
950
9.5
9.5
0.095
Kyle borrowed $3400 with an annual simple interest rate of 8% for 9 months. Calculate the amount of interest Kyle will owe.
*Convert % into decimal form; convert months into years
(1 point)
Responses
$204
$204
$244,800
$244,800
$20,400
$20,400
$2,448
$2,448
Skip to navigation
Answers
GPT-4o mini
To solve the problems step by step:
1. **Correct formula for calculating simple interest:**
The formula for calculating simple interest \( I \) is given by:
\[
I = P \times r \times t
\]
where:
- \( P \) is the principal amount (the initial amount borrowed).
- \( r \) is the annual interest rate (in decimal form).
- \( t \) is the time (in years).
In this case:
- \( P = 3400 \)
- \( r = 8\% = 0.08 \)
- \( t = 9 \text{ months} = \frac{9}{12} = 0.75 \text{ years} \)
Therefore, the correct formula to calculate the amount of simple interest Kyle will owe is:
\[
I = 3400 \times 0.08 \times 0.75
\]
The corresponding response among the options is:
**I = 3400 • .08 • .75**
2. **Convert 9.5% into decimal form:**
To convert percent to decimal, divide the percentage by 100:
\[
9.5\% = \frac{9.5}{100} = 0.095
\]
The correct response is:
**0.095**
3. **Calculating the amount of interest Kyle will owe:**
Using the formula:
\[
I = 3400 \times 0.08 \times 0.75
\]
First, calculate \( 0.08 \times 0.75 \):
\[
0.08 \times 0.75 = 0.06
\]
Now multiply by the principal:
\[
I = 3400 \times 0.06 = 204
\]
So the amount of interest Kyle will owe is:
**$204**
In summary:
1. The correct formula for simple interest is **I = 3400 • .08 • .75**.
2. The decimal form of 9.5% is **0.095**.
3. The amount of interest Kyle will owe is **$204**.
1. **Correct formula for calculating simple interest:**
The formula for calculating simple interest \( I \) is given by:
\[
I = P \times r \times t
\]
where:
- \( P \) is the principal amount (the initial amount borrowed).
- \( r \) is the annual interest rate (in decimal form).
- \( t \) is the time (in years).
In this case:
- \( P = 3400 \)
- \( r = 8\% = 0.08 \)
- \( t = 9 \text{ months} = \frac{9}{12} = 0.75 \text{ years} \)
Therefore, the correct formula to calculate the amount of simple interest Kyle will owe is:
\[
I = 3400 \times 0.08 \times 0.75
\]
The corresponding response among the options is:
**I = 3400 • .08 • .75**
2. **Convert 9.5% into decimal form:**
To convert percent to decimal, divide the percentage by 100:
\[
9.5\% = \frac{9.5}{100} = 0.095
\]
The correct response is:
**0.095**
3. **Calculating the amount of interest Kyle will owe:**
Using the formula:
\[
I = 3400 \times 0.08 \times 0.75
\]
First, calculate \( 0.08 \times 0.75 \):
\[
0.08 \times 0.75 = 0.06
\]
Now multiply by the principal:
\[
I = 3400 \times 0.06 = 204
\]
So the amount of interest Kyle will owe is:
**$204**
In summary:
1. The correct formula for simple interest is **I = 3400 • .08 • .75**.
2. The decimal form of 9.5% is **0.095**.
3. The amount of interest Kyle will owe is **$204**.