Question

Sandra deposited $2,500 into a simple interest account. ​She earned $75 in interest after 1 year. ​ ​Ron deposited $8,000 into an account that has the same interest rate as Sandra’s account. ​ ​How much money did Ron earn in interest after 1 year? ​ ​Show your work please 30 points!!!

HURRY PLEASE!!!!!!​

Answer 1

it is 240

it zi 204 because if you do the work you will get that

Answer 2

`\$240`

Explanation:

we know that

The simple interest formula is equal to

`I=P(rt)`

where

I is the Final Interest Value

P is the Principal amount of money to be invested

r is the rate of interest

t is Number of Time Periods

in this problem we have

Sandra

`t=1\ year\\ I=\$75\\ P=\$2,500\\r=?`

substitute in the formula above

`75=2,500(r(1))`

solve for r

`r=75/2,500)`

`r=0.03`

Convert to percentage form

`r=0.03*100=3\%`

Ron

`t=1\ year\\ I=?\\ P=\$8,000\\r=0.03`

substitute in the formula of interest

`I=8,000(0.03*1)`

`I=\$240`