ArleighQ464800 ArleighQ464800

29-10-2022
Mathematics

contestada

Don invests $12,000 into an account that pays 8.25% interest. How much interest does his account earn after 4 years?

Respuesta :

AlekseyM588575 AlekseyM588575

29-10-2022

In this case, we'll have to carry out several steps to find the solution.

Step 01:

Data

P = $12000

r = 8.25% = 0.0825

t = 4 years

I = ?

Step 02:

Simple Interest

I = Prt

I = 12000*0.0825*4 = 3960

The answer is:

The interest earns is $3960.

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