Question

Help please
and explian

Answer 1

Hello,

a) You have to know : Amount = Principal + interest

Therefore :

Amount :
`4000 + 960 = 4960`

b) You have to learn this by heart too , the formula for rate
R =
`(100*I)/(PT)`

Therefore :


`R= (100*960)/(4000*3)`

`R = 8`

The answer would be 8% per annum.

c) If the rate was 1% more, it would give R = 8 + 1 = 9% per annum.

Afterwards, the formula for Interest is :
`I = (PRT)/(100)`

Therefore :


`Interest = (4000*9*3)/(100) = 1080` $

So in her account, if the interest was 1% greater, the amount in her account would have been :

$4000 + $1080 = $5080.

That gives $5080 - $4960 = $120 more dollars in her account if the interest rate were 1% greater.

You won't need help in this exercice anymore ! :D

Hope this helps !

Photon

Answer 2

a) Yvonne has earned $4,960 by the end of the three years.
b) The interest rate was roughly 4.16%. (sorry, not sure how to show work for this one. I kinda just guessed)
c) If her interest rate was 1% greater, she would have an extra 775 dollars.
I apologize if this is wrong. You probably should double check, because I am a little rusty when it comes to math. Hope this helps, and I'm sorry if it didn't!