Question

Simple interest easy pleas ehelp due please pls

Answer 1

Part A - Option B $382.50

Part B - 11 years

Explanation:

The formula for simple interest is

`A=P(1+rt)`

`A` is the final amount

`P` is the initial amount

`r` is the interest rate as a decimal

`t` is the time

We are given

`P=3000\\r=0.0425`

Part A

To evaluate the amount of interest we need to use this equation

`I=Prt`

`I=3000*0.0425*3`

`I=382.5`

Part B

We can start with this equation, but we need to solve for
`t`.

`A=P(1+rt)`

Lets solve for
`t`.

Divide both sides of the equation by
`P`.

`(A)/(P) =1+rt`

Subtract 1 from both sides of the equation.

`(A)/(P)-1 =rt`

Divide both sides of the equation by
`r`.

`((A)/(P))/(r)-(1)/(r)=t`

Simplify the first term by multiplying the numerator by the reciprocal of the denominator.

`(A)/(Pr) -(1)/(r)=t`

`t=(A)/(Pr) -(1)/(r)`

Now we have an equation for time.

Substituting our values into the equation gives us

`t=(4402.50)/(3000*0.0425) -(1)/(0.0425)`

`t=11`