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Populaire Word Problems >

Martina deposits 700 into an account that pays simple interest at a rate of 2% per year. How much interest will she be paid in the first 5 years?

Solution

M a r t ina d e p os i t s 700 in t o an a cco u n t t ha t p a ys s im pl e in t eres t a t a r a t e o f 2% p er ye a r . Ho w m u c h in t eres t w i ll s h e b e p ai d in t h e f i rs t 5 ye a rs ?

Solution

Interest : 70

étapes des solutions

Translate the problem into an equation:

I = 700 \cdot 0.02 \cdot 5

Simplifier

I = 700 \cdot 0.02 \cdot 5

Interest : 70

Exemples populaires

The différence between eight times a number and 12 is 36.The sum of three consecutive even integers is 66. Find the three integers.Find three consecutive odd numbers whose sum is 2067.Avery opened a savings account and deposited 800.00 as principal. The account earns 15% interest, compounded monthly. What is the balance after 7 years?Seven times a number minus four is 45