0

# Suppose that you plan on investing into an account paying simple interest The formula for simple interest is I equals Prt where I is the interest earned on a investment of P dollars at the given rate?

Updated: 4/28/2022

Wiki User

10y ago

No. I is as described for the stated period.

Wiki User

10y ago

Earn +20 pts
Q: Suppose that you plan on investing into an account paying simple interest The formula for simple interest is I equals Prt where I is the interest earned on a investment of P dollars at the given rate?
Submit
Still have questions?
Related questions

### Is the interest earn t in a bank account classed as an investment?

Interest earned in a bank account is not an investment. It is considered an income. The money that you have in the bank account that earned the interest for you is considered the investment

### How much interest is earned on the account?

A \$5000 investment at an annual simple interest rate of 4.4% earned as much interest after one year as another investment in an account that earned 5.5% annual simple interest. How much was invested at 5.5%?

### What makes a saving account a better investment than checking account?

A savings account earns interest.

### What makes a savings than a checking account account a better investment?

A savings account earns interest.

### What is the definition of an account executive in an executive search frim?

An account executive handles the main investing and spending of a clients account. They are in charge of the account's interest and what the money should be invested in.

### How do you calculate nominal interest rate?

Nominal interest, is the amount of interest on a loan or investment that does not take into account inflation; it's the amount of interest listed on the loan or bond.

### What are the journal entries for Investment in Associate?

When initially investing in an associate, the journal entry would debit the investment account and credit cash or the amount paid. Subsequent adjustments for equity earnings or losses would include debiting the equity income (or loss) account and crediting the investment account for the investor's share of the associate's earnings or losses.

### What do savings account usually offer a high or low interest rate?

As low an interest as the borrower can get away with and still attract investment.

### What is the best CD interest rate for an investment of \$5000?

What is the best CD interest rate for an investment of \$5000?&rdquo;

### What services are available from Northwestern Mutual Investment Services?

Northwestern Mutual Investment Services have many services offered. Some of the offers that are available are detailed account information, marketing tools, and investing tools.

### Is it financially better to pay off your home, or build an investment account?

It is always better to pay off any outstanding debts before investing in stocks. Plus if you pay off your house, you save a lot in interest and can potentially sell your home to make a profit.

### What is an Ira, and how do I file for it?

An IRA is an Individual Retirement Account, or a retirement fund you invest into. To start investing into one, start looking into investment brokers and they can get you started.