Johnny deposited $1230 in a savings account at 2.25 percent interest. How much interest will the account earn in 10 years?

$212.50

$291.25

$276.75

$202.25

Will got an insurance check of $4500 after a car accident. He deposited it into a savings

account at 1.7 percent interest for five years. What was the total amount of money in the

account after five years?

1. $4462.50 2. $4882.50 3. $4374.38 4. $4315.63

276.75

Step-by-step explanation:

Deposit 1230. paying 2.25 % 10 yrs.

the interest is 276.75 and the amount is 1506.75

The answer to the first question is $276.75 and the answer to the second question is $4882.50

Step-by-step explanation:

Johnny deposited $1230 in a savings account at 2.25 percent interest. How much interest will the account earn in 10 years?

To solve this, we simply use the simple interest formula;

Simple Interest = PRT / 100

where p is the principal, R is the rate and T is the time (in years)

In this question principal = $1230 rate = 2.25 and time = 10

We can now plug the variables into the formula;

Simple Interest = PRT / 100

=$1230 * 2.25 * 10 / 100

= $27675 / 100

= $276.75

Therefore, the amount of interest earn in 10 years is $276.75

Will got an insurance check of $4500 after a car accident. He deposited it into a savings account at 1.7 percent interest for five years. What was the total amount of money in the account after five years?

We can also solve this second part of the question using the simple interest formula, here;

principal = $4500

Rate = 1.7

Time = 5

We will now insert our values into the simple interest formula, thus;

Simple Interest = PRT / 100

=$4500 * 1.7 * 5 / 100

=$38250 / 100

=$382.50

Simple interest = $382.50

Total amount = $4500 + $382.50

=$4882.50

Therefore, the total amount in the account after five years is $4882.50