Answered

At Westonci.ca, we make it easy for you to get the answers you need from a community of knowledgeable individuals. Connect with a community of professionals ready to provide precise solutions to your questions quickly and accurately. Discover detailed answers to your questions from a wide network of experts on our comprehensive Q&A platform.

Edward deposited $2250 into a savings account 3 years ago. The simple interest rate is 4%.


Edward earned $ __ in interest.


His new account balance is ___$ . (pls step by step explanation)

Sagot :

piper0000
He earned $270 and has $2520 because 2250(0.04)(3)= 270
2250+270= $2520
Hirio
Edward earned $ 270 in interest

How/Solution:

Multiply $2,250 by 4% (0.04)
[ $2,250 x 0.04 = 90]
and it equal to 90, then multiply it again by 3 [ 90 x 3 = 270 ]

His new account balance is $ 2,520

Solution:

Add $2250 by $270
[ $2,250 + $270 = $ 2,520 ]
Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. Your questions are important to us at Westonci.ca. Visit again for expert answers and reliable information.