A student has a savings account earning 12% simple interest. She must pay $1250 for first-semester tuition by September 1 and $1250 for second-semester tuition by January 1. How much must she earn in the summer (by September 1) to pay the first-semester bill on time and still have the remainder of her summer earnings grow to $1250 between September 1 and January 1? We need to solve for the principal which is represented by _____ answers to choose from^^^^: s, p, t, r 1250= P + P(_________) * 1/3 1250 = P + P(________) 1250 = (________)p P = $___________ (rounded to the nearest cent) *PLEASE ROUND* Thus, the student will need to earn $1250 +__________ = $__________ during the summer.
A student has a savings account earning 12% simple interest. She must pay $1250 for first-semester tuition by September 1 and $1250 for second-semester tuition by January 1. How much must she earn in the summer (by September 1) to pay the first-semester bill on time and still have the remainder of her summer earnings grow to $1250 between September 1 and January 1?
We need to solve for the principal which is represented by _____
answers to choose from^^^^: s, p, t, r
1250= P + P(_________) * 1/3
1250 = P + P(________)
1250 = (________)p
P = $___________ (rounded to the nearest cent) *PLEASE ROUND*
Thus, the student will need to earn $1250 +__________ = $__________ during the summer.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
