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5 December, 08:15

1. Lin deposited $300 in her savings account which has a 2% interest rate per year. How much is in her account after 1 year? After 2 years?

2. Diego wants to sell his bicycle. It costs $150 when he bought it but has depreciated by 15%. How much should he sell it for?

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  1. 5 December, 09:36
    0
    Step-by-step explanation:

    1. Given data

    Principal p = $300

    Rate r = 2% = 2/100 = 0.02

    Time t = 1 year and 2 years

    Final amount A = ?

    Applying the simple interest formula

    For the first year

    A = p (1 + rt)

    A = 300 (1 + 0.02*1)

    A = 300 (1.02)

    A = $306

    After one year her will have $306

    For the second year

    Principal p = $306

    A = 306 (1 + 0.02*2)

    A = 306 (1+0.04)

    A = 306 (1.04)

    A = $318.24

    After two years she will have $318.24

    2. Given data

    Cost of bicycle = $150

    Depreciation = 15%

    Firstly let us calculate 15% of $150

    (15/100) * 150 = 0.15*150

    = $22.5

    Since the value depreciated

    We will minus the the depression from the initial amount

    New amount = 150-22.5=

    $127.5
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