$275 at 7.5% for 4 years?

Answer 1

Linda/Cassandra -- please use the same name for your posts.

We've helped you with several problems. Now it's your turn.

I'll be glad to check your answer.

Answer 2

I am cassandras mom very confused by the way she is being taught this. I took 275 X 7.5% X 4 = 82.50 + 275 =357.50. That's the answer I got. She has an answer of 341.62. So whos right?

Answer 3

The teacher has her adding the interest each year separately. I don't know.

Answer 4

Here's the way I was taught about 65 years ago.

Interest = principle * rate * time

275 * 0.075 * 4 = 82.50

She'll pay/earn $82.50 in interest.

82.50 + 275 = 357.50

I agree with your answer.

Answer 5

Thank You so much. I will have to ask her teacher about the way she is being taught with adding the interest each year. Thank You again.

Answer 6

You're very welcome, Linda.

Answer 7

I agree with Ms Sue's & Linda's answer of
357.50

Answer 8

Guys....I got 82.5 I think my brain is just out of braincells ✌️💀