Mathematics, 26.03.2021 19:10, abdirisak33

1. Ralin and Michael each opened a savings account with a deposit of $15,950. · Ralin earn 5.5% simple interest per year.

· Michael earned 3% simple interest per year.

· Neither of them made additional deposits or withdrawals.

How much more did Ralin receive in interest than Michael after 18 months?

2. Mr. Smith borrowed $3000 to buy a used car. The simple interest rate is 12% per year. Mr. Smith paid off the loan in 48 months. How much did he pay for his car?

3. Athena and Jeremiah each opened a savings account with a deposit of $7,050.

· Athena earn 5.5% simple interest per year.

· Jeremiah earned 6% simple interest per year.

· Neither of them made additional deposits or withdrawals.

How much more did Jeremiah receive in interest than Athena after 8 years?

4.Ms. Brennan opened a savings account with a deposit of $950.

· She earned 3.65% simple interest per year.

· There was no additional deposits or withdrawals.

How much money does she have after 12 years?

Answers: 2

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1. Ralin and Michael each opened a savings account with a deposit of $15,950. · Ralin earn 5.5% sim...