Question

Plssss help !,! Tim was given $100 for his twelfth birthday. He's curious to see how much it will grow to if he earns interest on it. His mother tells him that she has about $3,000 in the same kind of account and she earned $120 last year. About how much interest could Tim expect to earn in a year?

A. $4.00
B. $12.00
C. $40.00
D. $1.20

Answer 1

$4.00

Explanation:

You need to work out how much $120 is as a percentage of $3000.

$3000 x percentage / 100 = 120

$3000 x percentage = 12000

percentage = 12000 / 3000 = 4

= 4%

The work out 4% of $100 = $4.00

Hope this helps

Answer 2

b

Explanation:

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