Paldag1008 Paldag1008
  • 05-04-2021
  • Mathematics
contestada

Drew invests $4000 at 6% for 5 years. How much interest does Drew earn? Remember the formula for simple interest is I=prt.

Respuesta :

jennajuna jennajuna
  • 05-04-2021

Answer:

I = $1,200.00

Step-by-step explanation:

First, converting R percent to r a decimal

r = R/100 = 6%/100 = 0.06 per year,

then, solving our equation

I = 4000 × 0.06 × 5 = 1200

I = $1,200.00

Answer Link

Otras preguntas

The ratio of Sam age to Hanks is 5 to 3. If the sum of their ages is 24, how old is Hank?
The function f(t) = −5t 2 + 20t + 60 models the approximate height of an object t seconds after it is launched. How many seconds does it take the object to hit
How far away is Canopus in kilometres?
what is 3 2/5 times 2 1/3
What's the answer to this problem?
Patrick ate 3/5 of a small pizza on Friday night. For lunch on Saturday , he ate 1/2 of the leftover pizza. How much pizza did he eat for lunch on Saturday?
Which sentence correctly forms the plural of the letter c?   A.How many c's are in accordion?   B.How many cs'
Which physical feature has most limited the movement of people living in North America ?
What is the answer to split 56 in the ratio of 3:4
what is greater 0.7 or 7/9?