Question

Karen deposits $375 into a savings account which earns simple interest at a rate of 4% per year. She wants to use the interest to buy a new camera. Which price camera could Karen buy at the end of 5 years? Select all that apply. A. $764 B. $52 C. $38 D. $75 E. $320 F. $249

Answer 1

Answer:

The Answer is B. $52

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Answer 2

Answer:

D. $75

Step-by-step explanation:

The formula used for Simple Interest is given by,

Simple Interest (S.I.) = (P × R × T) ÷ 100

where, P = Principal = 375

R = Rate = 4

T = Time = 5

Putting all values in above formula,

S.I. = (375 × 4 × 5) ÷ 100

⇒ S.I. = 75

Thus, the interest Karen get is $75, which she will use to buy camera.