A. Ahmed deposits 50,000 DHS into a savings account at Oryx Bank, which has a rate of 2.5%. Calculate the simple interest amount earned at the end of the first year. Ahmed earned 1250 DHS. B. Khalifa took out a simple interest loan for 18,000 DHS for two years at a rate of 6.75% to purchase a used car. Calculate the simple interest amount paid at the end of two years. Khalifa paid DHS.
A. Ahmed deposits 50,000 DHS into a savings account at Oryx Bank, which has a rate of 2.5%. Calculate the simple interest amount earned at the end of the first year. Ahmed earned 1250 DHS. B. Khalifa took out a simple interest loan for 18,000 DHS for two years at a rate of 6.75% to purchase a used car. Calculate the simple interest amount paid at the end of two years. Khalifa paid DHS.
Chapter1: Equations, Inequalities, And Mathematical Modeling
Section1.3: Modeling With Linear Equations
Problem 3ECP: Your family has annual loan payments equal to 28 of its annual income. During theyear, the loan...
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Transcribed Image Text:A. Ahmed deposits 50,000 DHS into a savings account at Oryx Bank, which
has a rate of 2.5%.
Calculate the simple interest amount earned at the end of the first year.
Ahmed earned 1250 DHS.
B.
Khalifa took out a simple interest loan for 18,000 DHS for two years at a
rate of 6.75% to purchase a used car.
Calculate the simple interest amount paid at the end of two years.
Khalifa paid
DHS.
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