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Author Question: A pet store had 468.42 cash on hand. It received cash payments of 62.88 and 59.14 . It paid out ... (Read 138 times)

HCHenry

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on: Jun 24, 2018
A pet store had 468.42 cash on hand. It received cash payments of 62.88 and 59.14 . It paid out 56.50 to have the windows washed. Determine the amount of cash the pet store had left.

Question 2

Red Winowski invested money for five years because he was guaranteed that he would earn 12 ordinary simple interest (360-day year) per year. At the end of five years, he received all of his original investment plus an additional 1,500 as the interest that he had earned. How much money had Red invested five years earlier?


momo1250

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Reply #1 on: Jun 24, 2018
Answer to Question 1

468.42 + 62.88 + 59.14 - 56.50 = 533.94

Answer to Question 2

P = I  (RT) = 1,500  (0.12  5) = 2,500


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