anonymous
  • anonymous
Roy's average balance checking account pays simple interest of 4.8% annually, and he made $2.25 in interest last month. What was Roy's average balance last month? A. $56.25 B. $562.50 C. $5625 D. $5.63 @ganeshie8
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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chestercat
  • chestercat
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anonymous
  • anonymous
Monthly interest is \(4.8\%/12\)
anonymous
  • anonymous
what do i do after that
Yttrium
  • Yttrium
Divide the interest last month to the monthly percentage interest. :)

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Yttrium
  • Yttrium
@divagirl421 , did you get it?
anonymous
  • anonymous
no:(
Yttrium
  • Yttrium
Divide the existing interest last month ($2.25) into the monthly interest you've got from the calculatio given by wio. :) Did you get it now?
anonymous
  • anonymous
i got 5.625
anonymous
  • anonymous
http://www.wolframalpha.com/input/?i=2.25+%2F+(0.048%2F12)
anonymous
  • anonymous
You forgot that percentages have to be divided by 100 as well.
anonymous
  • anonymous
Please give a medal.
Yttrium
  • Yttrium
I think you forgot to translate the 4.8% into whole number. It must be 0.048/12 to get the monthly interest. :) Did you get it now?
anonymous
  • anonymous
*real number
Yttrium
  • Yttrium
okay. :)
anonymous
  • anonymous
thank you
Yttrium
  • Yttrium
No problem. :)

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