Question

Help with this one pls!


Round answer to nearest dollar

Answer 1

Answer: $1,066.04

Explanation:

`Formula: i=prt`

principal: $31,822

rate: 5% = 0.05

time: 8 months = 0.67 years

Convert 5% to decimal. You can do this by dividing by 100.

`(5)/(100) =0.05`

Convert 8 months to years.

`8months((1year)/(12months) )=0.67year`

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Plug in the formula:

`i=(31822)(0.05)(0.67)\\i=1066.04`

Answer 2

Interest she earns in 8 months:

i = 31822 x 5/100 x 8/12 = 1060.7$

Hope this helps!

:)