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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%?
How do you find simple interest for 6 months?
Take the annual interest rate, divide it by 2 and multiply it by the amount you invested or borrowed.
When invested at an annual interest rate of 8 percent an account earned 336 of simple interest in one year How much money was originally invested in the account?
Let P be the amount of invested money. Then, .08P = 336 P = 336/.08 = 4,200
How much did Kate invest if she earned 1800 in 8 years at a 5 percent annual simple interest rate?
Kate invested 4500.
How the simple interest found in investment?
Multiply the principal (P) by the annual* interest rate as a decimal (r) and the time in years* (t). *The time period may be expressed in months, etc. For example, $2000 invested at 7% simple interest for 5 years: I = Prt = 2000x0.07x5 = 140x5 = $700.
How can 56000 be invested part at 7 percent annual simple interest and the remainder at 5 percent simple annual interest do that so the interest earned by both accounts is equal?
Two equations. x+y=56000 .07x=.05y Solve both of these equations simultaneously and it will be the answer. x+(.07/.05 x)=56000
If 7558.20 in interest was earned after 12350 was invested at a simple interest rate of 7.65. How long (in years) was the money invested?
It was eight years.
Which variable in the simple interest equation you equals p r t represents the original amount of money borrowed or invested?
p = principal ie amount invested; r = annual rate of interest; t = time in years. interest receivable = (p x t x r)/100
What is the simple interest earned on 700 invested at 5 percent annual interest for 2 years?
Simple interest = 700*5/100*2 = 70Simple interest = 700*5/100*2 = 70Simple interest = 700*5/100*2 = 70Simple interest = 700*5/100*2 = 70
12 percent of what number makes 1640?
an investmntment of 4000 is made at an annual simple interest rate of 8%. How much additional money must be invested at 12% so that the total interest earned is 1640?
How do you write out a simple interest question?
Simple interest = money invested x rate/100 x number of years
Ryan was 8 when his parents invested 4000 in a certificate of deposit that pays 6 percent If Ryan leaves the account alone until the investment doubles how old will he be Assume that the interest?
20, assuming annual compound interest, 24 if simple interest.
