WHAT ARE THE PRINCIPALS PLEASE HELP ME!

You have 2 different savings accounts. For Account​ A, the simple interest earned after
6 months is ​$4.63. For Account​ B, the simple interest earned after 21 months is ​$16.80. If the interest rate is ​3.7% for Account A and ​2.4% for Account​ B, how much is the principal in each​ account? Which account earned you the most interest the first​ month? Explain your answer.

Answers

Answer 1

Step-by-step explanation:

The formula for simple interest is expressed as

I = PRT/100

Where

P represents the principal or initial amount of money invested.

R represents interest rate

T represents time

Considering the investment on account A,

I = $6.94

R = 3.7%

T = 9 months = 9/12 = 0.75 years

6.94 = (P × 3.7 × 0.75)/100 = 0.02775P

P = 6.94/0.02775 = $250

Considering the investment on account B,

I = $13.80

R = 2.3%

T = 18 months = 18/12 = 1.5 years

13.8 = (P × 2.3 × 1.5)/100 = 0.0345P

P = 13.8/0.0345 = $400

To determine the account that earned more interest in the first month,

250/9 = $27.8

400/18 = $22.2

Account A earned you the most interest the first​ month because $27.8 is higher than $22.2


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What is rounding off the number?

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Step-by-step explanation:

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Answers

Answer:

A. $37,395

Step-by-step explanation:

correct on edge! hope it helps :)

The savings from the difference between the 30–year loan at 11%, which

is 6% gives an interest when the mortgage is paid of approximately;

a. $37,395.18

How can the amount interest accumulated be calculated?

The amount paid is given as follows;

[tex]Monthly \ payment, \ M = \mathbf{\dfrac{P \cdot \left(\dfrac{r}{12} \right) \cdot }\left(1+\dfrac{r}{12} \right)^n }{\left(1+\dfrac{r}{12} \right)^n - 1}[/tex]

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[tex]M = \dfrac{150000 \times \left(\dfrac{0.11}{12} \right) \cdot \left(1+\dfrac{0.11}{12} \right)^{30 \times 12} }{\left(1+\dfrac{0.11}{12} \right)^{30 \times 12} - 1} \approx \mathbf{1,428.49}[/tex]

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At the lower interest rate the person could have received (11 - 6 = 5)%, we have;

[tex]M = \mathbf{\dfrac{150000 \times \left(\dfrac{0.05}{12} \right) \cdot \left(1+\dfrac{0.05}{12} \right)^{30 \times 12} }{\left(1+\dfrac{0.05}{12} \right)^{30 \times 12} - 1}} \approx 805.23[/tex]

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