jeanlefort303
jeanlefort303 jeanlefort303
  • 07-02-2018
  • Mathematics
contestada

How much much interest is on earned on an account if... Principal= $1,250 Rate= 5.7% Time= 4 year

Respuesta :

kanddmarcump3r84d kanddmarcump3r84d
  • 07-02-2018
The interest earned after 4 years is 285 dollars
Answer Link
stokholm stokholm
  • 18-08-2018

Alright, lets gets started.

I suppose , we are asked to find simple interest for above question.

Principal P = $1,250

Rate r = 5.7 %

Time t = 4 years

The formula for simple interest = [tex] \frac{P*r*t}{100} [/tex]

Hence simple interest [tex] = \frac{1250*5.7*4}{100} [/tex]

Simple interest [tex] = \frac{28500}{100} [/tex]

Simple interest = 285 $

Hence interest earned is $ 285. : Answer

Hope it will help :)

Answer Link

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