Can someone help me on these math questions.?
1.Kwang deposits money in an account that earns 5% simple interest. He earned $546 in interest 2 years later. How much did he deposit?
2.Simon opened a certificate of deposit with the money from his bonus check. The bank offered 4.5% interest for 3 years of deposit. Simon calculated that he would earn $87.75 interest in that time. How much did Simon deposit to open the account?
3.Principle=?
Rate=5%
Time=4 years
Interest=$90
4.Principle=?
Rate=3 1/4%
Time=2 years
Interest=$63.05
Can someone help me with these problems. they are hard adn i dont get them if you know the answers please tell me!? please and thank you
With simple interest, the interest is just rate * time.
1) 2 years of 5% simple interest is 10% total interest, which is 1/10.
.10 * x = 546
Divide 546 by .10 (or multiply by 10) to get 5460.
2) If this is also simple interest, then
He deposited x
x * .045 * 3 = 87.75
x * .135 = 87.75
x = 650
3)
4 years of 5% = 20% which is 1/5
5 * 90 = 450
(Also 90 / 0.20 = 450)
4)
2 years of 3 1/4% = 6 1/2%
63.05 / .065 = 970
05/08/09 AJ(Lee Gi Kwang) – Wiping the Tears on KBS Music Bank
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