1 Find the simple interest on a 1900 investment made for 3 y

1- Find the simple interest on a $1900 investment made for 3 years at an interest rate of 8%/year. What is the accumulated amount?

simple interest: $________ accumulated amount: $__________

2- Find the accumulated amount at the end of 8 months on a $1800 bank deposit paying simple interest at a rate of 7%/year. (Round your answer to the nearest cent.)
$ _________

3- A bank deposit paying simple interest at the rate of 8%/year grew to a sum of $1300 in 6 months. Find the principal. (Round your answer to the nearest cent.)
$ __________

4- How many days will it take for a sum of $1600 to earn $21 interest if it is deposited in a bank paying simple interest at the rate of 7%/year? (Use a 365-day year. Round your answer up to the nearest full day.) _________ days

5- Determine the simple interest rate at which $1200 will grow to $1266 in 8 months. (Round your answer to two decimal places.) _______ %/year

Solution

1)

principle (P) = $1900

time (T)= 3 years

rate (R)= 0.08

interest (I)= ?

formula

interest (I)= PTR

= $1900(3)(0.08)

=$ 456

accumulated amount = P + I = $1900 + $ 456 = $ 2356

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principle (P) = $1800

time (T)= 8 months/12 months

Rate (R) = 7% = 0.07

now

interest (I)= PTR

= $1800(0.07)(8/12)

= $84

accumulated amount = P + I = $1800 + $ 84 = $1884

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3)

Interest (I) = $1300

time (T)= 6 months/12 months

Rate (R) = 8% = 0.08

now

Principle (P) = I /R T

RT = 0.04

To get an amount + a percentage, you\'d normally multiply it by 1+(the percentage). Any number multiplied by 1 results in itself

In this case, 1+0.04, or 1.04.

=$1300/(1.04)

= $1250

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4)

principle (P) = $1600

interest (I) = $21

Rate (R) = 0.07

formula

interest (I)= PTR/100

T = I (100)/ PR

= $21 (100)/(($1600)(0.07))

=18.75 of 365 days

= 6844 days

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please post the remaining questions again for answer