Question

HELPP ASAP

Daniel opens a new savings account and makes an initial deposit of $1,200. If the account earns 2.5% annual interest, which equation shows how much money is in the account in 9 months?

1. x=1,200+1,200(0.025)(0.75)
2. x=1,200+1,200(0.25)(9)
3. x=1,200+1,200(0.025)(9)
4. x=1,200+1,200(0.25)(0.75)

Answer 1

C

Explanation:

Seeing has his initial deposit is 1200

We first convert 2.5% to a decimal making it 0.025 because we moved the decimal 2 places back seeing as 100 percent only has 2 0s

It's also asking us how much money is in his account in 9 months meaning we have to times it by 9 and not 0.75

Answer 2

x = 1,200 + 1,200(0.025)(0.75)

Explanation:

The initial deposit of $1,200 is added to the total amount in the account after 9 months, so we start with 1,200 + ?

The annual interest rate is 2.5%, but we need to calculate the interest earned in 9 months. To do this, we can multiply the annual rate by the fraction of the year represented by 9 months, which is 0.75 (9/12). So the interest earned is 1,200(0.025)(0.75).

Adding the interest earned to the initial deposit gives us the total amount in the account after 9 months, which is x.