A community for students.

Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing

anonymous

  • one year ago

Samantha deposits $5,000.00 in account that earns 5.5% simple interest. About how many years will it take for her account balance to earn $3,000.00 in interest?

  • This Question is Closed
  1. anonymous
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 0

    will give a metal

  2. chrperez28
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 0

    SI = PxTXR/100 3000=5000xTx5.5/100 3/5x100/5.5=T 10 .9 years

  3. anonymous
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 0

    the possible answers are About 2 years About 5 years About 11 years About 20 years

  4. chrperez28
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 0

    About 11 years

  5. anonymous
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 0

    thank you @chrperez28

  6. Kash_TheSmartGuy
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 1

    \[Interest=Principal*Rate*Time\]\[3000=5000*0.055*x\]\[3000=275x\]\[\frac{ 3000 }{ 275 }=\frac{ 275x }{ 275 }\]\[x=10.9\]About 11 years.

  7. anonymous
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 0

    thank you @Kash_TheSmartGuy

  8. Kash_TheSmartGuy
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 1

    no prob :)

  9. Not the answer you are looking for?
    Search for more explanations.

    • Attachments:

Ask your own question

Sign Up
Find more explanations on OpenStudy
Privacy Policy

Your question is ready. Sign up for free to start getting answers.

spraguer (Moderator)
5 → View Detailed Profile

is replying to Can someone tell me what button the professor is hitting...

23

  • Teamwork 19 Teammate
  • Problem Solving 19 Hero
  • You have blocked this person.
  • ✔ You're a fan Checking fan status...

Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.

This is the testimonial you wrote.
You haven't written a testimonial for Owlfred.