Question

Interest after 1 year:

2
S=
. $
) Victoria has another account at the bank
that pays 2 % simple interest. How
much interest will she earn in 8 years on
an initial deposit of $250 assuming she
neither adds to nor withdraws from the
account?
= $
Interest after 8 years:
2.
-% interest expressed as a decimal
I = $
is
= $
>) Convince Me!
Victoria Will earn $
in interest
Would the interest for the second year

Answer 1

which class is this because I am in 7th class so that's why I can't give

Answer 2

For simple interest, the equation is
i = prt
interest = (principal/amount deposited) • (rate in decimal form) • (time in years)

To change the 2 1/2% interest to decimal form, first it becomes 2.5% interest, then divide by 100 (moving the decimal place 2 to the left), = 0.025

To calculate interest after 1 year, the equation blanks they gave you left off the time, which is 1, because it won’t change the equation.

0.025 • 250 = $6.25

Interest after 8 years:

i = (250)(0.025)(8)
i = $50

Hope this helps. Let me know in the comments if you have questions, or want to include the rest of the “convince me” section.