A savings bond currently made Jamar $2,112.64 worth of interest in 7 years. If the investment gained 5.5% annual simple interest each year, approximately how much was the bond originally bought for?

$5487.38

Step-by-step explanation:

Given that:

Interest currently made = $2112.64

Time = 7 years

Rate of interest = 5.5% annual

To find:

The price for which the bond was originally bought ?

Solution:

We need to find nothing but the principal amount.

First of all, let us have a look at the formula for Simple Interest.

Where is the principal amount

is the Rate of Interest

is the time for which the investment is made

Let us put the given values in the formula:

c.   x=2.4cm

step-by-step explanation:

similar triangles are triangles which have the same shape but not the same size. this means their angle measures are equal but their side lengths are not instead they are proportional. to solve, we will set up a proportion and solve.

a proportion is two equal ratios set equal to each other. we form the ratios by finding corresponding sides (sides which match to each other on both triangles by their position). out ratios will be one side of the small triangle over the corresponding side on the big triangle as shown below:

.

to solve the proportion, we'll cross multiply by multiplying numerator with denominator across the equal sign.