dipietrolucia261 dipietrolucia261
  • 05-07-2017
  • Mathematics
contestada

How long will it take to earn $568.75 in interest if $2500 is invested at a 6.5% annual interest rate

Respuesta :

purplechessnut
purplechessnut purplechessnut
  • 05-07-2017
3.5 years (so 4 years)
2500×0.065 (this gets the amout earned per year) =162.5
568.75÷162.5 (how many years to get the desired amount) =3.5
Answer Link
wikk
wikk wikk
  • 05-07-2017
I = Prt
568.75 = 2500(0.065)(t)
568.75 = 162.5(t)
3.5 = t

It will take 3.5 years to earn $568.75 in interest
Answer Link

Otras preguntas

PLEASE CHECK MY ANSWERS (PART 1)
What's the difference between Romanesque and Gothic style buildings?
briefly describe Theodore Geisel's career in advertising
After his paycheck, Mr.Weber's credit card balance was $245.76. His payment was for $75.00. Write and solve an equation to find the amount of his credit card
why did president Truman believe that the United States should sign the North Atlantic treaty
find the following sum and prove your claim: (1*2)+(2*3)+..+n(n+1).
what is the additive inverse opposite of 18/23
Are many valuable minerals found in or near areas of volcanic activity and mountain building?
the only Native American who successfully stayed on their land were A) Seminole B) Sauk C) Cherokee D) Fox
If a 21 ounce box of cereal costa $2.94,what is the unit price.