1) Russell deposited $650 in a savings account that earns 3% simple annual interest. If he makes no other deposits or withdraws, what will the balance of Russell's account be after 6 years?
A) $117
B) $659
C) $767
D) $1,170
2) Karim borrowed $120 from his older brother for the purchase of a skateboard. He promised to pay back the loan in 6 months at a simple annual interest rate of 15%. How much will Karim owe his brother at that time?
A) $108
B) $129
C) $138
3) Nate invested $3,800 in a certificate of deposit with a simple annual interest rate of %4. How much interest will he earn after a year?
A) $152
B) $950
C) $1,520
D) $3,952|||Remember, %= x/100, so:
1) 3% (3/100= .03
(.03 X 650) X 6
2) 15% (15/100)= .15
(.15 X 120) + 120
3) 4% (4/100)= .04
(.04 X 3800)
Work those out and there you'll have your answer.|||I Will not give you the answer becuase it's cheating, but I will teach you how:
.03=3%
(.03x650)x6
problem two:
.15=15%
(.15x120)x6
Problem three:
.04=4%
(.04x3,800)x1|||they are all A
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