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7 January, 12:46

An account earns simple interest. (a) Find the interest earned. (b) Find the balance of the account.

1. $2600 at 3.2% for 4 years

Interest

balance

2. $7500 at 8.5% for 3 months

interest

balance

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  1. 7 January, 14:09
    0
    1. The interest would be $332.80 and the balance of the account would be $2,932.80.

    2. The interest would be $1,912.50 and the balance of the account would be $9,412.50
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