Question

Interest: Tutorial

Question
Calculate the interest earned on each simple-interest account given the original principal, annual interest rate, and the length
of time the account was held. Match each amount to the corresponding account description.
Drag each tile to the correct box. Not all tiles will be used.
Tiles
$41.85
$55.80
$36.24
$45.45
$48.00
$46.35
Pairs
$500 at 3.2% for 3 years
$450 at 3.1% for 4 years
$515 at 3% for 3 years

Answer 1

• $48.00
• $55.80
• $46.35

Explanation:

In each case, the answer is the product of the three given numbers.

i = Prt

a) $500×0.032×3 = $48.00

b) $450×0.031×4 = $55.80

c) $515×0.03×3 = $46.35