Question

question 1 (multiple choice worth 3 points)
(simple interest and arithmetic sequences lc)

the equation, \\(816 = 600(1 + 9r)\\), represents the amount of money earned on a simple interest savings account. solve for \\(r\\).

\\(r = 0.04\\)
\\(r = 0.14\\)
\\(r = 0.26\\)
\\(r = 0.40\\)

Explanation:

Divide both sides by 600

$$ \frac{816}{600} = 1 + 9r $$

$$ 1.36 = 1 + 9r $$

Subtract 1 from both sides

$$ 0.36 = 9r $$

Solve for r

$$ r = \frac{0.36}{9} = 0.04 $$

Answer:

• (A) \(r = 0.04\) (Correct answer)
• (B) \(r = 0.14\)
• (C) \(r = 0.26\)
• (D) \(r = 0.40\)