alianisjoliemedina alianisjoliemedina
  • 21-06-2022
  • Mathematics
contestada

What is the interest earned on a principal of $250 at 3% interest for 9 years

Respuesta :

Hemo4
Hemo4 Hemo4
  • 21-06-2022

Answer: $67.50

Step-by-step explanation:

This question is asking for the amount of interest earned so let's write out the formula.

[tex]I=Prt[/tex]

Where:

I is the amount of interest

P is the principal amount ($250)

r is the interest rate (3% or 0.03)

and t is the time (9 years)

Sub in our values into the equation and solve

[tex]I=(250)(0.03)(9)\\I=(7.5)(9)\\I=67.50[/tex]

Answer Link

Otras preguntas

why did carter lose the election
[tex]\sqrt{x} 200[/tex]
Which of the following phrases best describes the term scientific model? A. The application of scientific knowledge to make predictions about an object, system,
I need 4 kenning examples describing moms
Distinguish between chromosomes, genes and DNA
Mrs. Eskew saved her money for 32 years and had $4,119,184 in the bank. She used her money to go a vacation for a month and spent $978,349. How much did she hav
I need 3 quotes from the book ghost with the page number if you can.
Explain what a forest looks like for someone who cannot see
How many quarts of water should be added to 6 quarts of 80% antifreeze solution to dilute it down to 30%?
Create a situation that would require both the functions,f(x) and g(x), and is related to the situations you have already outlined. Use addition or subtraction