Li deposited $17,500 into a bank account that earned simple interest each year. After 2 years, he had earned $2975 in interest.

No money was deposited into or withdrawn from the account.

What was the annual interest rate?

Enter your answer in the box.

Answers

Answer 1

Answer:  8.5%

Step-by-step explanation:

Formula : Simple interest = (Principal) x (annual interest rate) x (Time)    (i)

Given: Principal : P = $ 17,500

Time : 2 years

Simple interest : I = $ 2975

Let r = annual

[tex]2975=17500\times(r)\times(2)[/tex]

[tex]\Rightarrow\ r=\dfrac{2975}{17500\times2}\\\\\Rightarrow\ r=0.085\\\\\Rightarrow\ r=0.085\times100\\\\\Rightarrow\ r=8.5\%[/tex]

Hence, The annual interest rate was 8.5%.


Related Questions

Simplify: 3m + 7 + 2m

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5m+7 is the answer I think
5m + 7

Add 3m and 2m together because they are both being multiplied by m.

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Answer:

what is it

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Answer:

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Uzmaki

Identify the two factors that were multiplied together to form the array of tiles. Then identify the product of the two factors. Use the variable x in your expressions.

Answers

Answer:

[tex]Terms: 3\ and\ x + 2[/tex]

[tex]Product = 3x + 6[/tex]

Step-by-step explanation:

See attachment for complete question.

From the attachment, there are 3 columns and 3 rows

The 3 columns represent the first factor

To get the second factor, we have to analyze the 3 rows in the attachment.

Notice that the first row is bigger than the other two rows.

This big row will be represented with variable x

Notice that the boxes in second row are smaller than the first row and the + sign is written on each of the boxes.

This is represented with + 1

Also, notice that the boxes in third row are smaller than the first row and the + sign is written on each of the boxes.

This is also represented with + 1

Hence, the expression for the rows is x + 1 + 1 = x + 2

The product is then calculated as:

[tex]Product = 3 * (x + 2)[/tex]

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When you’re multiplying or dividing same sign numbers, what will your product or quotient be?

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When you multiply two integers with the same signs, the result is always positive. Just multiply the absolute values and make the answer positive. When you multiply two integers with different signs, the result is always negative.

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What is the remainder when
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Answers

Answer:

Step-by-step explanation:

x - 6 = 0

x = 6

f(x) = 2x⁴  + x² - 8x - 1

     =2(6)⁴+ 6² - 8*6 - 1

     = 2*1296 + 36 - 48 - 1

     = 2592 + 36 - 48 - 1

     = 2628 - 49

     = 2579

Solve the following proportion for U.
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Answers

u would equal 7.8 :)))))))

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Answer:

If you always give without thinking of receiving something, you will get more than you need later.

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Step-by-step explanation:

Yes. I used my own quote.

"Challenges are what make life interesting and overcoming them is what makes life interesting"

-Joshua J. Marine

"Don’t Let Yesterday Take Up Too Much Of Today."

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“You Learn More From Failure Than From Success. Don’t Let It Stop You. Failure Builds Character.”

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“The Only Limit To Our Realization Of Tomorrow Will Be Our Doubts Of Today.”

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Bus 26 takes 2 3/4 hours to complete its bus route. How many times can Bus 26 complete its route in 16 hours?

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Answer:

i dont understand the question

Step-by-step explanation:

Helppp I’ll mark you as brainlister you

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Answer:

[tex]\triangle KLM \sim \triangle GFH[/tex]

Step-by-step explanation:

In similar triangles, the corresponding angles must be congruent. We see from the diagram that [tex]\angle K \cong \angle G[/tex], [tex]\angle L \cong \angle F[/tex], and [tex]\angle M \cong \angle H[/tex]. Therefore, [tex]\triangle KLM \sim \triangle GFH[/tex].

A file that is 261 megabytes is being downloaded. If the download is 18.7% complete, how many megabytes have been downloaded? Round your answer to the nearest tenth

Answers

Answer:

48.8

Step-by-step explanation:

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Answer:

84g

Step-by-step explanation:

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The vertices of are F(2,1), G(4,1), and H(4,-1). The vertices of the image of the triangle after a dilation centered at (0,0) are F'(4,2), G'(8,2), and H'(8,-2). What is the scale factor of the dilation?

Answers

Answer:

The scale factor of the dilation is 2

Step-by-step explanation:

The given vertices the ΔFGH are;

F(2, 1), G(4, 1), and H(4, -1)

The lengths of the sides of the triangle ΔFGH are;

The length of segment FG = √((4 - 2)² + (1 - 1)²) = 2

The length of segment FH = √((4 - 2)² + ((-1) - 1)²) = 2·√2

The length of segment GH = √((4 - 4)² + ((-1) - 1)²) = 2

After a dilation with the center of dilation = (0, 0), to give the ΔF'G'H', we have;

The given vertices the ΔF'G'H' are F'(4, 2), G'(8, 2), H'(8, -2)

The length of segment F'G' = √((8 - 4)² + (2 - 2)²) = 4

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Answers

Answer:

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Step-by-step explanation:

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Step-by-step explanation:

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Answers

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Step-by-step explanation:

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(See the attachment)

Step-by-step explanation:

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Answers

Answer:

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Step-by-step explanation:

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Points (-2, 4) and (-1, 1) lie on the same line. Which of the following equations represents the line

Answers

Answer:

y = -3x - 2

Step-by-step explanation:

Given the coordinates  (-2, 4) and (-1, 1), we are to find the equation of a line passing through the points.

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ITS BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB

C
L 6.1.3 Quiz: Exponents
Question 4 of 10
Which of the following is equal to divide 9•4

Answers

Answer:

36 ÷ 9= 4

Step-by-step explanation:

9 x 4= 36

The division equation for this is 36 ÷ 9= 4

The product of the expression 9 and 4 is 36.

What is Multiplication?

Multiplication of two numbers is defined as the addition of one of the number repeatedly until the times of the other number.

a × b means that a is added to itself b times or b is added to itself a times.

Give that we have to multiply 9 with 4.

This means that 9 has to be added repeatedly up to 4 times or 4 has to be added repeatedly up to 9 times.

In both cases, the product must be the same.

9 multiplied by 4 =  9 + 9 + 9 + 9

Which is also equal to,

4 + 4 + 4 + 4 + 4 + 4 + 4 + 4 + 4

= 36

Hence the product is 36.

Learn more about Multiplication here :

https://brainly.com/question/19943359

#SPJ7

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