Are these correct ?. My grade counts on this and I'm not the best at math.
I. Interest is ____?. (1pt)
a. The amount of money your bank pays you for the use of only your money.
b. The amount you might pay for a loan. *
c. A percentage rate.
d. All of the above.
II. When calculating interest , you need too ______? (1pt)
a. Change the percentage to a decimal then multiply the decimal against the amount.
b. Just multiply the percentage against the amount without changing it.
c. Add the percentage to the amount.
d. Subtract the percentage from the amount.*
III. If you place $1,000.00 in a savings account with an interest rate of 3.25 % / Month , How much should you earn in interest at the end of the month?.
a. $ 3.25
b. $ 32.50*
c.$ 325.00
d.$ 0.33
VIII. If you placed $ 1,000.00 in a savings account with an interest rate of 4.5 % versus an account with 3.75 % interest , how much more could you earn in interest for that month?
a. $1.25 more
b. $12.50 more *
c. $7.50 more
d. $75.50 more
the answer
D
A
B
C
d
a
b
c
Just took the quick check.
Losers club is correct expect 4.) $7.50 more
1. D
2. A
3. B
4. C
who tf is right😭
II is wrong. The other three are correct.
II. When calculating interest , you need too ______? (1pt)
a. Change the percentage to a decimal then multiply the decimal against the amount.
---------------------------------
VIII
.0450 - .0375 = .0075
.0075 * 1000 = 7.50 or answer c
BUT this assumes interest PER MONTH (very unusual that it would be that high per month)
I have the same question about number III
I'm confused .-.
Everyhing but 2 is correct?. I'm asking because of Damon's statement :o
I think Damon calculated the yearly, rather than the monthly interest.
He gave you the answer for II.