It does include 0.06 and 0.10.
Compute I = P * R * T for P = 5200, T = 2 and R = 0.06 and R = 0.10.
Pick the values of A through F that lie between the values of I you computed for both values of R.
Kurt C.
asked 05/09/21My problem: The question is a multiple correct answers/multiple choice and asks what are possible amounts of simple annual interest paid after 2 years if the rate varies between 6% and 10% (with an initial deposit of $5,200). I know how to calculate the range of values, but I'm not sure if my answers should include 6% and 10%. I appreciate the time and help. Here is the problem as it is actually phrased:
The problem: An account is opened with an initial deposit of $5,200. If the account pays simple annual interest at a rate that varies between 6% and 10%, which of the following could be the amount of interest paid after 2 years?
A. $600
B. $720
C. $860
D. $950
E. $1,040
F. $1,170
It does include 0.06 and 0.10.
Compute I = P * R * T for P = 5200, T = 2 and R = 0.06 and R = 0.10.
Pick the values of A through F that lie between the values of I you computed for both values of R.
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