mthomas81 mthomas81
  • 03-07-2018
  • Mathematics
contestada

how much should you invest at 4% simple interest in order to earn $50 interest in 6 months

Respuesta :

mathmate
mathmate mathmate
  • 03-07-2018
Simple interest formula
Interest = Pit = $50
P=principal (initial investment)
i=annual interest rate = 0.04
t=time in years = 6 months = 0.5 years

Substitute values,
$50 = P*0.04*0.5 
Solve for P
P=$50/(0.04*0.5)=$2500


Answer Link

Otras preguntas

You are playing an Algebra 1 board game with your friends in Mr. Harris's class. It is your turn. You roll the dice and move your token to the next box in the b
Which principal part of the verb best completes this sentence? They have __________ to serve sandwiches at the local coffee shop. A. began B. begins C. begin D.
how to simplify (5x²y³)²
Are dentures better than a mouth full of crowns?
what is longitude? what is latitude?
An oval group of stars is an "what" galaxy?
How did expanding democracy bring Andrew Jackson to power?
give an approximate value of the square root of 1000 to the tenths place.
In one basketball season, Tim made 75% of the free throws he attempted. Tim made 36 free throws. How many free throws did he attempt? A. 27 B. 48 C. 61 D. 75
a creek runs along a distance of 16,300 feet.About how many miles long is the creek