Question 1038723
she earns 2% simple interest per year.
interest = principal * rate * time
rime is measured in years or fractions of years.
rate is per year.
in one year she earned 35 dollars in interest.
interest rate as a decimal equals interest rate as a percent / 100.
2% = .02
interest = principal * rate * time.
formula becomes 35 = principal * .02 * 1
simplify to get 35 = principal * .02
divide both sides of the equation by .02 to get 35/.02 = principal
solve for principal to get principal = 35/.02 = 1750.
that was at the beginning of last year.
at the end of last year, rachel had 1750 + 35 = 1785.
your answers look good.