Question

Drag each tile to the correct box. Not all tiles will be used.

Calculate the interest earned on each simple interest account given the original principal, annual interest rate, and length of time the account
was held. Match each amount to the corresponding account description.
$124.74
$99.66
$105.60
$126.72
$143.50
$106.60
$1,100 at 3.2% for 3 years
$990 at 3.15% for 4 years
$1,025 at 2.8% for 5 years​

Answer 1

Picture below

Explanation:

Answer 2

$1,100 at 3.2% for 3 years -> $105.60

$990 at 3.15% for 4 years -> $124.74

$1,025 at 2.8% for 5 years​ -> $143.5

Explanation:

Simple interest formula is:

A = P*(1 + r*t)

where A if final account, P is principal, r is annual interest rate (as decimal) and t is time in years

Interest earned is A - P, then:

I = P*(1 + r*t) - P = P(1 + r*t - 1) = P*r*t

If P = $1100, r = 0.032 and t = 3, then:

I = 1100*0.032*3 = $105.6

If P = $990, r = 0.0315 and t = 4, then:

I = 990*0.0315*4 = $124.74

If P = $1025, r = 0.028 and t = 5, then:

I = 1025*0.028*5 = $143.5