Mathematics

Question

$12,000 is invested for 4 years at a
simple interest rate of 1.5%. How much
does the investment earn?

2 Answer

  • I=prt. Sub in what you know: I=12,000(.015)(4). Multiply: I=12,000(.06). Multiply again: I=720. The investment earned $720 :)
  • Answer:

    The investment is $720.

    Step-by-step explanation:

    Given : $12,000 is invested for 4 years at a  simple interest rate of 1.5%.

    To find : How much  does the investment earn?

    Solution :

    Applying simple interest formula,

    [tex]SI=P\times R\times T[/tex]

    Where, P is the principal P=$12000

    R is the interest rate R=1.5%=0.015

    T is the time T=4 years

    Substitute the value in the formula,

    [tex]SI=12000\times 0.015\times 4[/tex]

    [tex]SI=720[/tex]

    The investment is $720.

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