Question

Hazel deposited $1,000 in her savings account. She earned 6.5% annual simple interest on the first $700 of her deposit and 3.5% simple interest on the remainder, How much interest did Hazel earn

after one year? (1 point)
O $45.00
O $51.00
O $56.00
O $65.00

Answer 1

The answer is C. $56.00
Hazel earned $56.00 in interest after one year.

Explanation:

700 x 6.5% =
700 x 0.065 = 45.5

300 x 3.5% =
300 x 0.035 = 10.5

45.5 + 10.5 = 56.00