Question

Bekkah's savings account earns 2.75% interest per year.

If she put $12,500 into the savings account, how much interest is earned in a year, in dollars?

Answer 1

The answer is 12843.75 dollars

Answer 2

343.75 dollars

Explanation:

First I like to solve for the value of 1% which is 125 then we solve for .10% which is 12.5 then we solve for .01% which is 1.25 I find this helpful because now we have the unit amount for each percent we use in this equation now to multiply we have .05 percent so we take our 1.25 value for .01 percent and multiply by 5 which give us 6.25 then we do .7% we take our .1 percent value and multiply 12.5 x 7 give us 87.5 then we do the 2% we take our 1 percent value and multiply by 2 125 x 2 give us 250 now we add it all together 250+87.5+6.25 = 343.75 I hope this help you out :)