brendancarney703
brendancarney703 brendancarney703
  • 03-12-2020
  • Mathematics
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Maria Invests $600 in a bank account that earns simple interest. She earns $30 at the end of 12 months . Janae invest $350 at the same rate of interest for 12 months​

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DorelleMarie DorelleMarie
  • 03-12-2020

Answer:

Interest = $1.75

Step-by-step explanation:

Maria invest $600, and receives interest of $30 per year

We know that PRT/100= INTEREST

R=( 100*INTEREST)/(PT)

R = (100*30)/(600*1)

R= 3000/600

R= 5%

Jane invest $350 at Sam rate with Maria , that is 5% , for a year, her interest

Interest= 350*5*1/100

Interest = $1.75

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