Discover the answers you need at Westonci.ca, a dynamic Q&A platform where knowledge is shared freely by a community of experts. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.
Sagot :
Amount while opening account at rate of 4% for 6 months and earn simple interest $37 is $1850.
As given,
Simple interest amount earned by Elsa = $37
Annual interest rate R= 4%
Time T =6 months
Let P be the principal amount she put while opening account
Simple interest = (P × R × T) / 100
⇒37 ={P × 4 × (6/12)}/100
⇒P =(37 × 100) / 2
= $1850
Therefore, amount while opening account at rate of 4% for 6 months and earn simple interest $37 is $1850.
The complete question is:
Elsa opens an account to save money for a family vacation. The account earns an annual interest rate of 4%. She earns $37 in simple interest after 6 months. How much money did she put in the account when she opened it?
Learn more about simple interest here
brainly.com/question/25845758
#SPJ4
Thank you for trusting us with your questions. We're here to help you find accurate answers quickly and efficiently. Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. Find reliable answers at Westonci.ca. Visit us again for the latest updates and expert advice.
