Friday, September 19, 2014

Maria has $350, she spends 2/7 of her money & invests the rest for 2 years at 5% per year simple interest .How much money does Maria have at the...

Spendinfg of Maria = (2/7) of $350
= $100.


The rest of the money  invested = 350-100 =
$250.


The rate of interest  on investment =
5%.


The money after  she gets after 2 years is required to be
calculated.


We use the formula Interest amount =  PTR/100 where P =
amount invested , T = number of years, and R = rate of
interest.


Therefore the interst amount Maria gets after 2 years =
250*2*5/100 = $25.


So the amount Maria should get after 2 years =
Invested amount +Interest accrued = 250+25 = $275.

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