J.D. opened a savings account with $425. After 2 years, the total interest he earned was $10.20. What was the annual interest rate?

Answers

Answer 1

The interest rate required to accumulate simple interest of $ 10.20 from a principal of $ 425.00 over 2 years is 1.2% per year.

What is Percentage?

percentage, a relative value indicating hundredth parts of any quantity.

Given,

J.D. opened a savings account with $425

After 2 years, the total interest he earned was $10.20

We need to find the annual interest rate.

The rate of interest can be done by using below equation

r = 10.2 / ( 425 × 2 ) = 0.012

r = 0.012

convert r to the percentage by multiplying with 100

R = 0.012 × 100 = 1.2%year

Hence, the interest rate required to accumulate simple interest of $ 10.20 from a principal of $ 425.00 over 2 years is 1.2% per year.

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Answer 2
Final answer:

To calculate the annual interest rate, use the simple interest formula I = PRT, where I is the total interest earned ($10.20), P is the initial deposit ($425), and T is the time period in years (2). Solving for R gives us the annual interest rate, which in this case is 1.2%.

Explanation:

The student is asking how to calculate the annual interest rate based on the total amount of interest earned over a specific period. In this question, J.D. earned a total interest of $10.20 over 2 years on an initial deposit of $425. To find the annual interest rate, we can use the formula for simple interest since compound interest is not mentioned.

To solve for the interest rate, we use the simple interest formula I = PRT, where I is the interest earned, P is the principal amount (initial deposit), R is the rate of interest per year, and T is the time in years. Based on the information provided:

Interest earned, I = $10.20Principal, P = $425Time, T = 2 years

Plugging these values into the formula and solving for R, we get:

10.20 = 425 × R × 2

To isolate R, divide both sides by 850 (which is 425 × 2):

R = 10.20 ÷ 850

R = 0.012

The annual interest rate as a percentage is R × 100:

R × 100 = 0.012 × 100

R = 1.2%

Therefore, the annual interest rate was 1.2%.


Related Questions

How do work 3x-2y=3 and 5x-5y=10

Answers

those equations are in standard form. to graph them you need to put it in y=mx+b form, also known as slope intercept form. if they are a system of equations and u have to fins where they intersect then put it in slope intercept form and see the point where they meet. if they are separate and u only need to graph each of them again, they need to be in slope intercept form. 3x-2y=3 is y=3/2x+3 and 5x-5y=10 is y=x+3 if you put it in slope intercept form.

The table shows revenue R (in millions of dollars) of a company when it spends A (in millions of dollars) in advertising.

a. Write a linear function that relates the revenue to the advertising cost.
b. What is the revenue of the company when it spends $10 million on advertising?

(Table is attached below)

Answers

advertising is x and revenue is y

(0,2)(2,6)
slope = (6 - 2) / (2 - 0) = 4/2 = 2

y = mx + b
slope(m) = 2
(0,2)...x = 0 and y = 2
now we sub and find b, the y int
2 = 2(0) + b
2 = b

so ur equation is : y = 2x + 2

spends 10 mill on advertising.....so x = 10
y = 2x + 2
y = 2(10) + 2
y = 20 + 2
y = 22.....so the revenue (y) of the company is 22 (million)

which is a true statement about 7 and 14

Answers

7 is a multiple of 14. 7 can divide 14 perfectly without any remainder

7 is a multiple of 14. This is because 14 divided by 7 equals a whole answer with no remainders.

2 fourth common denominator

Answers

I don't get the question
So you are trying to find the fourth common denominator of 2. So think of the multiples of 2 (2,4,6,8,10) in this place, it is called least common multiple. But if it is put into fraction form, it is 1/2, 1/4, 1/6, 1/8, 1/10. But least common denominator and least common multiple are the same thing. So the least common denominator is 8.

Three salesmen work for the same company, selling the same product. And, although they are all paid on a weekly basis, each salesman earns his paycheck differently. Salesman A works strictly on commission. He earns $65 per sale, with a maximum weekly commission of $1,300. Salesman B earns a weekly base salary of $300, plus a commission of $40 per sale. There are no limits on the amount of commission he can earn. Salesman C does not earn any commission. His weekly salary is $900. Suppose Salesmen A and B have the same number of sales and earn the same amount in Week 4 of this month. How many sales must they both have had?

Answers

Answer:

a0 - 0

a1 - 300

a2 - 900

a3 - 65

a4 - 340

a5 - 900

a6 - 650

a7 - 700

a8 - 900

Step-by-step explanation:

there you go

Based on the amount that both Salesmen A and B earn per sale, the number of sales they both had was 12 sales.

How many sales did Salesmen A and B have?

Salesman A gets $65 per sale and Saleman B gets $300 and $40 per sale.

Assuming the number of sales to take them both to the same amount is x, the relevant formulas would be:

65x = 300 + 40x

Solving gives:

65x - 40x = 300

25x = 300

x = 300 / 25

= 12 sales

The amount that both of them earned is:

= 65 x 12

= $780

= 300 + 40 x 12

= $780

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a _____is a know size or amount that helps you understand another size or amount

Answers

I think the answer would be Benchmark. I'm not 100% sure though. Hope this helps! ^_^

Understanding size through known quantities in mathematics and utilizing conversion factors for unit conversions.

Size is a known size or amount that helps understand another size or amount. It is a visual variable conducive for quantitative attributes in various fields, such as mathematics and science.

In mathematics, known quantities can be used to determine unknown quantities through approximations and comparisons, such as estimating lengths or measurements based on familiar values.

Conversion factors are numbers that relate different units of measure for the same quantity, enabling easy conversions between units.

find a fraction equivalent to 8/4 when added together it equals 84

Answers

56/28 would be the answer since 56 and 28 is 84
A fraction of [tex] \frac{8}{4} [/tex] has a numerator (the top number) twice the size of a denominator (the bottom number). Any equivalent fraction is:

[tex] \frac{2x}{x} [/tex]

The sum of 2x and x is 3x. The sum of the numerator and denominator is 84.

3x=84 - Divide by 3
x=28

The fraction is [tex] \frac{2x}{x} [/tex], substitute x as 28 and the fraction is:

[tex] \frac{56}{28} [/tex]



What is 30,000 written in scientific notation?

A.
3.0 × 10–5

B.
3.0 × 10–4

C.
3.0 × 104

D.
3.0 × 105

Answers

answer is C.
3.0 × 10^4

hope it helps

10^4= 10,000 then 10,000×3= 30,000 so C.)

suppose Mina and two of her friends go to the movies.write an expression that could be used to find the total cost for them to go to the movies and buy one of each item.

Answers

Let x represent the cost of the movie ticket and y represent the cost of a snack item. 3x + 3y

The required expression represents the total cost for them to go to the movies and buy one of each item is y = 2[a + x].

What are equation models?

The equation model is defined as the model of the given situation in the form of an equation using variables and constants.

here,
The question seems to be incomplete,
Let the cost of the item be 'a' the cost of the movie be x, and the total cost be y,
According to the question,
y = 2[a + x]

Thus, the required expression represents the total cost for them to go to the movies and buy one of each item as y = 2[a + x].

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the height of the triangle shown can be found using the expression 48 divide by b ,where b is the base of the triangle what is the height of the triangle

Answers

the height of the triangle is 48/b or 48 over b. That's all I can tell you with the information given.

Answer:

6

Step-by-step explanation:

b is 8ft and 48 divided by 8 is 6

5x88x9x7x3x9x10x31x47=

Answers

1.09047708 E10 i guess
5 * 88 * 9 * 7 * 3 * 9 * 10 * 31 *47 = 
_____________________________________
10,904,770,800 .

How do you solve a/6=15/2?

Answers

15/2 = 7.5
7.5 times 6 = 45
Check work: 45/6 = 7.5

Haley drove 328 miles in 4 hours. At this rate, how far could she drive for 10 hours?

Unit rate ___________ miles per hour

Miles in 10 hour__________

Answers

328 ÷ 4 = 82 mph. (unit rate)

82 x 10 = 820. 

Haley can drive 820 miles in 10 hours, and drove 82 miles per hour.

hopefully this helps



A color called "passion purple" is made by mixing 5oz of red paint with 9 oz of blue paint. What percent of passion purple is blue paint? (Round to the nearest percent)

Answers

The answer to this is 64%.
Final answer:

Approximately 64% of the passion purple is blue paint, calculated by dividing the amount of blue paint by the total amount of paint and multiplying by 100%.

Explanation:

To determine what percent of passion purple is blue paint, we calculate the ratio of the amount of blue paint to the total amount of paint used to make the color. We have 9 oz of blue paint and a total of 5 oz red paint plus 9 oz blue paint, which equals 14 oz of paint in total. The percentage of blue paint is therefore (9 oz blue paint / 14 oz total paint) × 100%.

Calculating this, we get:

(9 oz / 14 oz) × 100% = 0.642857 × 100% ≈ 64.29%

After rounding to the nearest percent, approximately 64% of the passion purple paint is blue paint.

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John is building a rectangular puppy kennel up against his house using 31 feet of fencing. The side against the house does not need a fence and the side parallel to his house needs to be 15 feet long. Write an equation that models the situation and solve for the length of one of the shorter sides that extend out from the house.

Answers

Answer:

Each of the shorter sides extended out from the house is 8 feet long.

Explanation:

So John, needs to make a 3 sided fence. He has 31 feet of fencing to do this with and the single side parallel to the house is 15 feet.

We can write the equation for this problem as:

31=2s+15

Where 31 is the total amount of fencing John has to use, 15 is the one side where the length is given, s is the length of each of the other two sides and because there are two sides we multiply s by 2

Solving this equation gives:

31−15=2s+15−15

16=2s+0

16=2s

162=2s2

8=s

What is the value of a? 0.0482 − (−0.0091)= a

Answers

I hope this helps you



0,0482+0,0091=a


a=0,0573
0.0573=a
Help this help! :)

How would I solve the following: 328=(5-6x)

Answers

the value of "x" is-6


(open picture for work)

what compatible number can you use to estimate 803÷86

Answers

10.5 is equal to 10 which is shown above.

how is 1/2 plus 1/4 solved differently than 1/2 plus 1/3?
plz help fast?????

Answers

These 2 are solved differently because of a major thing; 1/4 and 1/3 are completely different numbers, so the formula is different, it would be either 1/2 + 1/4 or 1/2 + 1/3
1/2 and 1/4 is different than 1/2 and 1/3 because 1/3 is larger than 1/4.

What is 983.491 rounded to the nearest whole number?

Answers

Hi, 983.391 rounded to the nearest whole number is 983 because 0.491 is less than 0.5
983 because for .4 cannot round 3 to a bigger number if it were .5 then it would've been 984


Gerain is practicing his free throws at basketball practice he attempts 20 free throws and makes 13 baskets what percent of his attempts were baskets

Answers

The answer would be 65%
Because if you have 20 free throws correct that would be 100%, so you times it by 5. So 5 x 13 baskets would give you 65%

how many times can 15 go into 21 BTW DIVIDING

Answers

Once because 15x2=30
Once because 15\21= 1.4, 15x2=30

a line contains the points (4,2) and (0,-1). what is the equation of the line. a) y=2x -6
b)y= 3/4x -1
c) y= 1/4x + 1
d) y= 4/3x - 10/3

Answers

To do this, we should calculate the gradient first
m=y2-y1 overx2-x1
m=-1-2 over 0-4
m=-3 over -4
m=3 over 4

formula of a straight is y-y1=m(x-x1)
y-2=3/4x-3
y=3/4x-1

so the answer is b)
Final answer:

The equation of the line passing through the points (4,2) and (0,-1) is y = -3/4x + 5.

Explanation:

To find the equation of a line passing through two points, we need to find the slope and the y-intercept.

The formula for finding the slope is: m = (y2 - y1) / (x2 - x1)

Using the points (4, 2) and (0, -1):

x1 = 4, y1 = 2x2 = 0, y2 = -1

Substituting these values into the formula, we get: m = (-1 - 2) / (0 - 4) = 3 / -4 = -3/4

The slope of the line is -3/4.

Next, we can use the slope-intercept form of the equation of a line, which is: y = mx + b

Using one point and the slope, we can solve for the y-intercept, b.

x = 4, y = 2, m = -3/4

Substituting these values into the slope-intercept form, we get: 2 = (-3/4)(4) + b

Simplifying this equation, we find: 2 = -3 + b

Adding 3 to both sides, we get: b = 5

Therefore, the equation of the line is: y = -3/4x + 5

3) The City of Oz has to repaint its cylinder-shaped water tower. Only the top and sides need to be painted. If the water tower has a height of 60 feet and a radius of 20 feet, how many square feet must be painted? A) 400π ft2 Eliminate B) 2400π ft2 C) 2800π ft2 D) 4400π ft2

Answers

Answer:

The answer is C 2800 ft2.

Step-by-step explanation:

I just took a quiz and that was the answer. I honestly don't know why.

Final answer:

To find the area to be painted on the cylinder-shaped water tower, we sum the areas of the top and sides. The water tower has a height of 60 feet and a radius of 20 feet, resulting in a total area of 2800π ft^2 to paint.

Explanation:

The City of Oz needs to repaint its cylinder-shaped water tower. To calculate the total surface area to be painted, which consists of the top (a circle) and the sides (a rectangle wrapped around), we use the formulas for the area of a circle and the lateral surface area of a cylinder:

Area of the top (circle) = πr²

Lateral surface area (sides) = 2πrh

The water tower has a height of 60 feet and a radius of 20 feet.

Area to paint = Area of the top + Lateral surface area = π(20 ft)² + 2π(20 ft)(60 ft) = 400π ft² + 2400π ft² = 2800π ft².

Therefore, the correct answer is C) 2800π ft².

Julie made a 3 ft. Long submarine sandwich. She is going to cut it into 5 equal length pieces. How long will each piece be?

Answers

3/5 of a foot long or 0.6 of a foot
3/5 of foot would be the answer

Chad washes windows after school to make some extra money. He charges $5.50 to wash each window. If the customer provides the supplies, Chad deducts $3.25 from the total cost. One customer paid a total of $27.50 and did not provide supplies. Which equation could be used to find the number of windows, w, that Chad washed for this customer?

5.5w + 3.25 = 27.5
5.5w - 3.25 = 27.5
5.5w = 27.5
5.5 - 3.25w = 27.5

Answers

5.5w - 3.25 = 27.5    I hope this helps            


5.5w=27.5
The reason is because this customer is not providing supplies so they do not need to subtract 3.25.  

@gamerbrehyt2 What is the solution set of -9x ≤ 27?

x ≤ -3
x ≥ -3
x ≤ 3
x ≥ 3

Answers

Answer:

X_>-3

Hope this helps!!!!

What value should go in the empty boxes to complete the calculation for finding the product of
0.98 × 0.73? Both numbers are the same; however, only input the number one time in your answer.

Answers

Answer:

The number is 6

Step-by-step explanation:

8*7=56, 9*7+5=68, 6860.

hope this helps

Final answer:

To find the product of 0.98 × 0.73, multiply the digits in the tenths and hundredths places and combine the products.

Explanation:

To find the product of 0.98 × 0.73, you need to multiply these two numbers together. First, eliminate any extra zeros in the decimals. Then, multiply the digits in the tenths place (8 × 7) and the digits in the hundredths place (9 × 3). Finally, combine the two products to find the final answer.

0.98 can be written as 0.981 and 0.73 can be written as 0.731.

Multiply the digits in the tenths place: 8 × 7 = 56;Multiply the digits in the hundredths place: 9 × 3 = 27;Combine the two products: 56 + 27 = 83.

Therefore, the product of 0.98 × 0.73 is 0.83.

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PLZ help with 6th math homework!

Answers

I'm not doing your math homework, this is to help you learn and pass your test :) I will however show you a trick. ask your self this... "What can i factor out of 4x that i can also factor out of 8, which this would be 4. Now what you do if you divide everything by 4

4x/4 = x
8/4 = 2

so 4(x+2) is 4x+8 fully factored, NOW to check, use the distributive property, Multiply 4 back into x+2
4*x = 4x
4*2 = 8
so 4(x+2) = 4x+8

Brian irons 2/9 of his shirt in 3 3/5 minutes. At this rate, how much of his shirt does he iron each minute?

Answers

You have to divide both sides by 3 3/5
Or multiply by 5/18, the inverse of 3 3/5.

It should get you 5/81 of his shirt per minute
Final answer:

Brian irons 1/16 of his shirt per minute.

Explanation:

The question is about determining the rate at which Brian irons his shirts per minute. Given the fact that Brian irons 2/9 of his shirt in 3 3/5 minutes, we first convert 3 3/5 into an improper fraction, giving us 18/5 minutes. Dividing the fraction of the shirt he irons, 2/9, by the time it takes, 18/5, we get the fraction of the shirt Brian irons per minute.

To find this, we multiply 2/9 by the reciprocal of 18/5, which is 5/18, resulting in (2/9)*(5/18) = 10/162 shirts per minute. Simplifying this fraction, we find Brian irons approximately 0.062 shirts or about 1/16 of his shirt per minute.

This is an example of using rates and fractions in a real-world context to solve problems. Understanding how to manipulate and simplify fractions is crucial for solving these real-world math problems.

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