Question

An investor earned $184.47 in interest in one year on an account that paid 3.25% simple interest. a. What was the value of the account at the end of that year?

Name: an investor earned 18447 in interest in one year on an account that paid 325 simple interest a what was the value of the account at the end of that year 05424
Uploaded: 2023-07-11T20:16:29-08:00
Duration: 2 min 11 s
Channel: Kathleen Carty
Description: an investor earned 18447 in interest in one year on an account that paid 325 simple interest a what was the value of the account at the end of that year 05424

          An investor earned $184.47 in interest in one year on an account that paid 3.25% simple interest. a. What was the value of the account at the end of that year?

Added by Laurie C.

Elementary and Intermediate Algebra

Alan S. Tussy, R. David Gustafson 5th Edition

Instant Answer

Solved by Expert Kathleen Carty

07/11/2023

Step 1

The interest rate is given as 3.25%. To convert it to decimal form, divide it by 100. 3.25% = 3.25/100 = 0.0325 Show more…

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An investor earned $184.47 in interest in one year on an account that paid 3.25% simple interest. a. What was the value of the account at the end of that year?