radomes.openskiesproject.org
dariuswoodlin98 dariuswoodlin98
  • 19-01-2017
  • Mathematics
Answered

Beth deposited $4000 in a college fund earning 3.5% simple interest. What was the total interest earned at the end of 12 years?

Verified Answer :

Anonymous Anonymous
  • 19-01-2017

Assume compounded yearly

A = P(1+0.035)^12 is amount after 12 years
A = 4000(1.035)^12 = 4000(1.511) = 6044.27

but 4000 of this is Principal,
so Interest is
I = A-P = 2044.27

Since this does not fit your options, assume simple interest of 0.035 x 12 years
I = (0.035)(12)(4000) = 1680 thus
B

Answer Link

Related Questions

Hyperinflation can occur when
Let x any negative rational number Choose all statements that are true A x is a positive number B x is the opposite of x C x is equal to x D x is greater than
Find the percent of increase from 350 to 470 Round to the nearest tenth of a percent if necessary
water is essential for life its special properties makes water the single most important molecule in plant life which of the following properties of water enabl
The ink of scholars is more precious than the blood of martyrs Who is the source of this quotation Muhammad Ibn alHaytham AlZahrawi Rumi
Which words in the sentence is the object of the preposition The audience was waiting and then a funny clown walked onto the stage a Stage b Clown c Audience d
Could someone help me
Spongebobs aunt is famous around town for her itty bitty stubby nose She recently met a cute squarepants felloe who also has a stubby nose which is a recessive
Is 05 equal to 12
what does the time say ik how to read a clock but this is just confusing