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?

Question

Please help me answer this question step by step

Answer 1

I = prt

192 = P * 0.04 * 12

192 = 0.48p

400 = p

Answer 2

Thank you

Answer 3

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?

Answer 4

You are welcome.

Answer 5

Use the formula I posted above.

I'll be glad to check your answer.

Answer 6

I=5000
P=50
R=?
T= 6
Answer... About 16 or 17%

Answer 7

The time is only half a year so use 0.5 for time.

Answer 8

Answer 200

Answer 9

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

Answer 10

Yay! 2% is right.

Answer 11

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

Answer 12

Right! :-)

Answer 13

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

Answer 14

He's earned $40 in interest.

Now, please, answer the question.

Answer 15

Am suppose to find the compound interest if so could give me the formula

Answer 16

4000(1+0.05)^2

Answer 17

Answer 4410

Answer 18

This is the question you should answer.

What would be the total amount of money that he would have in the bank be at the end of two years.

Answer 19

4410+40=4450

Answer 20

400 + 40 = ?

Answer 21

440

Answer 22

Whew! You got it! :-)