Question

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1. ivy invested $150 000 in a savings account that offers to pay simple interest of 0.2% per year. how much interest will she receive at the end of one year?
2. store a sells 2 bottles of soda for $4.25. store b sells 24 bottles of soda for $45. which store offers a more economical way to buy 48 bottles of soda?
3. james invested $20 000 in a savings plan that pays interest of 3% per year. how much interest will he earn at the end of half a year?

Explanation:

Question 10

Step1: Recall simple interest formula

The formula for simple interest is $I = P \times r \times t$, where $I$ is the interest, $P$ is the principal amount, $r$ is the annual interest rate (in decimal), and $t$ is the time in years.

Step2: Identify values

Here, $P = \$150000$, $r = 0.2\% = 0.002$ (converted to decimal), and $t = 1$ year.

Step3: Calculate interest

Substitute the values into the formula: $I = 150000 \times 0.002 \times 1$.
$I = 150000 \times 0.002 = 300$.

Step1: Calculate cost for 48 bottles at Store A

Store A sells 2 bottles for $\$4.25$. To find the number of sets of 2 bottles in 48 bottles, we do $48 \div 2 = 24$ sets.
The cost for 48 bottles at Store A is $24 \times 4.25 = 102$.

Step2: Calculate cost for 48 bottles at Store B

Store B sells 24 bottles for $\$45$. To find the number of sets of 24 bottles in 48 bottles, we do $48 \div 24 = 2$ sets.
The cost for 48 bottles at Store B is $2 \times 45 = 90$.

Step3: Compare costs

Since $90 < 102$, Store B is more economical.

Step1: Recall simple interest formula

The formula for simple interest is $I = P \times r \times t$, where $I$ is the interest, $P$ is the principal amount, $r$ is the annual interest rate (in decimal), and $t$ is the time in years.

Step2: Identify values

Here, $P = \$20000$, $r = 3\% = 0.03$ (converted to decimal), and $t = 0.5$ years (half a year).

Step3: Calculate interest

Substitute the values into the formula: $I = 20000 \times 0.03 \times 0.5$.
First, $20000 \times 0.03 = 600$, then $600 \times 0.5 = 300$.

Answer:

$\$300$

Question 11