Match the information about interest earned with the principal amount invested. Remember the equation for calculating simple interest is I equals p times r times t .
seventy-two dollars over 3 years at an interest rate of three percent
sixty-six dollars over 2 years at an interest rate of three percent
seventy-two dollars over 2 years at an interest rate of four percent
seventy-two dollars over 3 years at an interest rate of two percent
A.
p equals nine hundred dollars
B.
p equals one thousand two hundred dollars
C.
p equals one thousand one hundred d

- anonymous

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- Mertsj

Did you try this?

- Mertsj

the first one would be interest earned is 72, principal we have to find, rate is .03 and time is 3 years.

- Mertsj

\[72=P(.03)(3)\]

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## More answers

- Mertsj

P=800

- Mertsj

Why do you only have 3 answers for 4 problems?

- anonymous

I put the last one but it wont show it was ( D.
p equals eight hundred dollars )

- Mertsj

Can you try the next one and tell me what you get and I will check it.

- anonymous

66(.3)(2) i did this but i got 39.6 :\

- Mertsj

\[66=P(.03)(2)\]\[\frac{66}{(.03)(2)}=P\]
\[1100=P\]

- anonymous

am I adding the (.03) (2) together and then dividing it by 66?

- Mertsj

No. Let's take some simpler numbers and see if you can understand.
What if I have 12 = 2x Could you solve that? And how would you do it?

- anonymous

6 12 รท 2 = 6?

- Mertsj

Yes. look at what I am going to draw.

- Mertsj

|dw:1328200164853:dw|

- Mertsj

So these equations that you have to solve are exactly like that.

- Mertsj

do you have a calculator?

- anonymous

Yes

- Mertsj

Write this down on a piece of paper; 66=P(.03)(2)

- anonymous

k

- Mertsj

Now multiply .03 times 2

- Mertsj

What did you get?

- anonymous

.06

- Mertsj

So now write this: 66=P(.06)

- anonymous

k

- Mertsj

Now divide both sides of the equation by .06 like I showed you in the drawing.

- anonymous

p = 1100

- anonymous

:D ahh i see

- Mertsj

Very good. Now set up the next one and tell me how you set it up. NOT the answer, just the set-up.

- anonymous

ok

- anonymous

72 = P(.04)(2)

- Mertsj

Perfect!! Now, can you solve it?

- anonymous

yes :D!

- Mertsj

Great. Tell me what you get.

- anonymous

P = 800?

- Mertsj

That's not what I got. You check your answer and I will check mine.

- anonymous

well i got 1800 = p but I did not know what to do with the (2) in 72 = P(.04)(2)

- Mertsj

(.04)(2) means .04 times 2 so multiply them together first.

- Mertsj

Then you should have 72=P(.08)

- anonymous

yes

- Mertsj

Now divide both sides of the equation by .08

- Mertsj

Like I showed you in the drawing.

- anonymous

p = 900

- Mertsj

Bingo!!! Now try the last one.

- Mertsj

And show me your setup

- anonymous

72 = P(.04)(2)
.04 x 2 = .08
72 = P(.08)
1,900 = p
that??

- Mertsj

Well that is all perfect except when you divided both sides by .08 you must have hit a wrong button. So try the division part again.

- Mertsj

Oh. just a minute. That is the same problem we just did.

- anonymous

oh you want the next?

- Mertsj

Yes. The last problem.

- Mertsj

The final problem in the list.

- anonymous

seventy-two dollars over 3 years at an interest rate of two percent
72 = P (.02)(3)
72 = P (.06)
1,200 = p

- Mertsj

WOW!!! You are just too smart!

- anonymous

:D ty for teaching me!!!

- Mertsj

yw

- anonymous

sorry i took so long to understand o.o

- Mertsj

That's ok. We all have trouble with stuff. It's just not the same stuff for everyone.

- anonymous

thanks :)

- Mertsj

yw

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