Identify the rate, base, and amount?

Question

Paul invested $5000 in a time deposit. What interest will
he earn for 1 year if the interest rate is 6.5%?

Answer 1

the base is 5000$
the rate is 6.5 %
the interest he will earn is 6.5% of 5000
that's 0.065*5000 = 325$

(1% is one out of hundred, which means 1/100 = 0.01,
so 6,5 % is represented by 0.065)

Answer 2

Rate = Percent

Find the amount when the base and percent are known

Amount = base x percent

Remove te % symbol. Divide 6.5 by 100

6.5 / 100 = 0.065

Multiply 5000 times the decimal

5000 x 0.065 = 325

The amount is $ 325.00

$ 325.00 is 6.5% of $ 5000.00

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