Question

Ava invests money in an account paying simple interest. She invests $130 and no money is added or removed from the investment. After one year, she has $132.60. What is the simple percent interest per year?

Answer 1

yes

Explanation:

Answer 2

well, she put 130 bucks, and then she got back 132.6 after one year, so the interest earned is 132.6 - 130 = $2.6, thus

`~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\dotfill & \$2.60\\ P=\textit{original amount deposited}\dotfill & \$130\\ r=rate\to r\%\to (r)/(100)\\ t=years\dotfill &1 \end{cases} \\\\\\ 2.60 = (130)((r)/(100))(1)\implies 2.6=\cfrac{130r}{100}\implies 260=130r \\\\\\ \cfrac{260}{130}=r\implies 2=r`