Faythworks3685 Faythworks3685
  • 15-12-2020
  • Mathematics
contestada

After 12 years, a deposit of $10,000 into your college account has earned $6,000 in interest payments. What simple interest rate did the account earn

Respuesta :

oscar236
oscar236 oscar236
  • 15-12-2020

Answer:

5%

Step-by-step explanation:

I = PRT/100  where I = interest, P = initial deposit, R = the rate in %, T = number of years.

So substituting the given values:

6000 = 10000*R* 12/100

10000*12*R =  100*6000

R =  100*6000 / (10000 * 12)

R = 600000/120000

= 5%

Answer Link

Otras preguntas

a survey of 500 television watchers produced the information: 285 watch football games 195 watch hockey games 115 watch basketball games 45 watch football and
three things about driving
please explain how 24 divided by 2.5 equals 9.6
A ___________ is similar to an intranet in that it uses internet technologies, but is developed for users outside the organization.
Energy from the Sun is ____ energy. a. nuclear c. solar b. geothermal d. biomass
Bismarck’s belief in practical goals instead of political theory was called realpolitik. True False
Public policy concerning the Colorado River affects all of the following states EXCEPT which one? A. Nevada B. Utah C. New Mexico D. California
Athens and Sparta were both A. countries B. city-states C. monarchies D. empires
Will medal for answerPorter is studying the influenza pandemic of World War I. He is examining letters, journal entries, autobiographies, and newspaper articles
determine whether the following elements are more likely to be a metal or nonmetal a)A shiny substance used to make flexible bed springs b)Yellow powder from un