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How much interest will Caleb earn in one year for a 1,750,000 account if it earns 10.25% simple interest?

User Joyrex
by
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1 Answer

7 votes

Answer:

76875

Explanation:

What we need to do!

To answer this question, we simply need to find 10.25% of 1750000.

To do this we need to find the multiplier!

Important definition: The multiplier is the number that we will multiply the original value with to find our final answer.

Our solution!!

To find a percentage of a certain number, the multiplier is the % divided by 100!

  • 10.25 ÷ 100 = 0.1025

Now we just need to multiply 1750000 by 0.1025 to find the interest.

  • 1750000 x 0.1025 = 76875

Our final answer is 76875!

Hope this helps, have a lovely day!

User Steph Locke
by
8.2k points

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