Question

I need help with this please I know I filled it in but I don’t know if it’s correct thanks

Answer 1

2) We have to complete the table.

It relates principal, rate, time, interested earned and new balance.

We assume that there is no compounded interest, so we will use the simple interest

We can relate the principal P, the rate R, the time t and the interest I as:

`I=P*r*t`

The new balance N will be equal to the sum of P and I.

We can then complete each row.

First row: we have to calculate the interest earned and the new balance.

`\begin{gathered} I=P*r*t \\ I=300*0.03*4=36 \\ =>N=P+I=300+36=336 \end{gathered}`

Second row: we have to calculate the rate and the new balance.

`r=(I)/(P*t)=(67.50)/(450*3)=(67.50)/(1350)=0.05=5\%`
`N=P+I=450+67.50=517.50`

Third row: we have to calculate the time and the new balance.

`t=(I)/(P*r)=(112.50)/(500*0.045)=(112.50)/(22.5)=5`
`N=P+I=500+112.50=612.50`

Fourth row: we have to calculate the principal and the new balance.

`P=(I)/(r*t)=(108)/(0.08*2)=(108)/(0.16)=675`
`N=P+I=675+108=783`

Answer: We then can complete the table as: