find the simple interest due (in dollars) on an 8-year loan of \$1,250 if the annual simple interest rate is 4.5%. (see example 1 in this section.)
\$

2. - / 5 points
you deposit \$1,750 in an account earning an annual interest rate of 10.8%. calculate the simple interest earned (in dollars) in 8 months.
\$

Question

find the simple interest due (in dollars) on an 8-year loan of \$1,250 if the annual simple interest rate is 4.5%. (see example 1 in this section.)
\$

2. - / 5 points
you deposit \$1,750 in an account earning an annual interest rate of 10.8%. calculate the simple interest earned (in dollars) in 8 months.
\$

Accepted Answer

{ "quality": "clear", "question_count": 2, "skills_matched": [ "step_cot", "blank_filling_formatter", "explain_then_answer", "quick" ], "needs_drawing": false, "concepts_used": [], "new_concepts": [ "Simple Interest Formula" ], "current_concepts": [ "Simple Interest Formula", "Time Conversion in Interest" ] } ## Calculate simple interest for the first question $$ \begin{aligned} P &= 1250 \ r &= 0.045 \ t &= 8 \ I_1 &= P \cdot r \cdot t \ I_1 &= 1250 \cdot 0.045 \cdot 8 \ I_1 &= 450 \end{aligned} $$ ## Calculate simple interest for the second question $$ \begin{aligned} P &= 1750 \ r &= 0.108 \ t &= \frac{8}{12} = \frac{2}{3} \ I_2 &= P \cdot r \cdot t \ I_2 &= 1750 \cdot 0.108 \cdot \frac{2}{3} \ I_2 &= 126 \end{aligned} $$ ## Question 1 Find the simple interest due (in dollars) on an 8-year loan of $1,250 if the annual simple interest rate is 4.5%. (See Example 1 in this section.) $ 450 ## Question 2 You deposit $1,750 in an account earning an annual interest rate of 10.8%. Calculate the simple interest earned (in dollars) in 8 months. $ 126 { "subject": "Mathematics", "question_type": "Fill-in-the-blank", "knowledge_point": [ "Mathematics", "Algebra", "Simple Interest Formula" ] }

Sovi.AI - AI Math Tutor

QUESTION IMAGE

Question

Explanation:

Calculate simple interest for the first question

Calculate simple interest for the second question

Answer:

Question 1

Question 2