reeselequire reeselequire

10-01-2017
Mathematics

Answered

You want to put $8,000 in a simple interest account. It has a 2% annual interest rate. How long must you invest that money to earn $400 in interest?

Verified Answer :

10-01-2017

I = prt is the formula for simple interest
400 = 8000 .02 t
400 = 160 * t
2.5 = t
2.5 years to earn $400 interest

Answer Link

denonakavro denonakavro

10-01-2017

Simple interest = starting amount x time (in years) x rate
8000(0.02)(t)=400
160t= 400
t= 400/160 =2.5 Years
2.5 years will be 2 years and 6 months

Answer Link

Related Questions

What percent is 12 out of 20

How can an ice skater change his rotational velocity without involving any external torqueMultiple ChoiceОhe cannotby pushing harder with his skatesby changing

Plz help me thanksssssssss

7 Jan has two spinners One has 3 equal sections labeled A B and C The other has 4 equal sections labeled 1 2 3 and 4 She spins both spinners What is the probab

what might people who were not as smart as other or who were weaker than other try to do

A rope can withstand a tension of 12000 N before it breaks The weight of a car is 14000 N Discuss whether this rope could be strong enough to tow the car

Am I right The production of egg and sperm cells follows a certain sequence of events Which of the following lists those events in the correct ordersexual repro

y xx5x5 How do you turn this factored form into standard form

What is the solution set of 4x2 36 0

Web Analytics