Sarah has a savings account that earns $\frac{3}{4} %$ $3/4%$ interest per year. If Sarah has $840 in her account, what is the best estimate for the interest earned after 1 year?

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Answer 1 · 2017-02-02T02:03:07

After one years for 3/4 % interest on about 840$ you got 6.3 $

so $840 + $6.3 = $846.3 for the first year !

hope you understand the explaination ! have good day !

x = money base = $840

***y = best estimate for the intrest earned after 1 year = 0.75% from X ***

f = best estimate for the intrest earned after 1 year + the money base

3/4 % = 0.75%

Solution to determine y :

$1. \frac{0.75}{100} \equiv \frac{y}{840} \leftarrow by ratio$ $"1. "0.75/100 -= y/840 color(red)(larr" by ratio ")$
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$2. y = \frac{0.75 \times 840}{100}$ $"2. "y=(0.75xx840)/100$
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$3. y = \frac{630}{100}$ $"3. "y=(630)/100$
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$4. y = $ 6.3$ $"4. "y=$6.3$

so : final equation : $f = x + \frac{0.75}{100} x$ $" " f = x + (0.75)/100 x$

Note : dont forget that the number of the money in sarah account is different each years

**exemple : **

**first year = $840 **

**second year = $840 + 3/4% of $840 = $846.3 **

third year = $846.3 + 3/4% of $846.3 = $852.64

Sarah has a savings account that earns 34%3/4% interest per year. If Sarah has $840 in her account, what is the best estimate for the interest earned after 1 year?