select the correct answer. alice earned $622.50 in interest on her savings in the bank. before interest, the…

select the correct answer. alice earned $622.50 in interest on her savings in the bank. before interest, the account had $12,450. what is the approximate percent she earned in interest?\na. 3%\nb. 5%\nc. 7%\nd. 10%

select the correct answer. alice earned $622.50 in interest on her savings in the bank. before interest, the account had $12,450. what is the approximate percent she earned in interest?\na. 3%\nb. 5%\nc. 7%\nd. 10%

Answer

Explanation:

Step1: Recall percentage - interest formula

Percent interest = $\frac{\text{Interest amount}}{\text{Principal amount}}\times100%$

Step2: Identify values

Interest amount = $622.50$, Principal amount = $12450$

Step3: Calculate percentage

Percent interest = $\frac{622.50}{12450}\times100%$ $=\frac{62250}{12450}%$ $ = 5%$

Answer:

B. 5%