Pat deposits $600 in a savings account at a simple interest rate 6% per year for 5 years. How much money will Pat have earned in interest at the end of 5 years?

A. $360

B. $180

C. $95

D. $36

Answer Explanation:

In the simple interest, we utilize the following formula to find the simple interest after a period of time in years.

I=P*r*t

I is the interest

P=Principal or initial deposit

r=rate

t=time in years

From the given problem, P=$600, r=6%=6/100=0.06, t=5 years. Then

I=$600*0.06*5=$180

After 5 years, Pat will earn an interest of $180.

Therefore, the Correct Answer is B.

Q #1: To determine the insurance of a car, an insurance company considers the following determinants: the age of the car, the model of the car, and the mileage of the car. Which of the following is the dependent variable?

A. Model

B. Insurance premium

C. Mileage

D. Age

Answer Explanation

A dependent variable is one that when another variable changes, it also changes. In our case, the insurance premium changes if the age, model, mileage of car changes. Thus, insurance premium is the dependent variable while the other three are independent variable.
Q #2: Simplify the expression below. Which of the following is correct? $18x^5yz\ \div\ \ 6xyz^4$

A. $3x^4z^3$

B. $3x^4yz^3$

C. $\frac{(3x)^4}{z^3}$

D. $\frac{(3x^4)}{z^3}$

Answer Explanation

We use the properties of exponent with the same base to solve for above expression.

Multiplication of exponents with same base, we add the exponents

Division of exponents with same base, we subtract the exponents

Using these two properties, we can solve the expression:

Now we use the following properties:

y0 =1, and , thus
Q #3: To rent tablecloth from a rental vendor, there is an initial charge of $40. There is an additional charge of $5 per circular tablecloth (c) and $3.50 per rectangular tablecloth (r). Which of the following represents the total cost (T) to rent tablecloths?

A. 5r + 3.5c - 40 = T

B. 5c + 3.5r + 40 = T

C. 5c + 3.5r - 40 = T

D. 5r + 3.5c + 40 = T

Answer Explanation

From the given scenario:

Initial charge is $40

Additional charge per circular cloth=$5c

Additional charge per rectangular cloth=$3.50r

Total cost = additional charge per circular rectangular cloths + Initial charge

Total cost, T = 5c + 3.5r + 40