Ask Question
25 March, 18:53

Loretta invested $1000 in a simple interest account yielding 5% paid annually. In 2 years, she will have $1100 in her account. From this example, we can conclude that 5% represents the:

+2
Answers (2)
  1. 25 March, 19:16
    0
    5% represents the Periodic Interest Rate
  2. 25 March, 22:37
    0
    Simple interest is P * R * T. So, 5% as a decimal will be. 05, then you do 1000*.05 and get fifty, then in 2 years she'll have 1100 in the account.

    The 5% is the annual pay Rate.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Loretta invested $1000 in a simple interest account yielding 5% paid annually. In 2 years, she will have $1100 in her account. From this ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers