Register
Alex invested $400 in a CD that pays 3% simple interest, calculated semiannually. How much money will Alex earn in 2 years? A. $74 B. $24 C. $54 D. $14
226k views
1 vote
Alex invested $400 in a CD that pays 3% simple interest, calculated semiannually. How much money will Alex earn in 2 years? A. $74 B. $24 C. $54 D. $14

User Medkhelifi
by
5.8k points

2 Answers

7 votes

Answer:

$24

Explanation:

just got it right good luck <3

User Popester
by
5.6k points
5 votes
Simple interest is calculated using the formula
I = Prt . . . . . . . . . . P = principal, r = interest annual rate, t = time (years)
I = $400·0.03·2
I = $24

In 2 years, Alex will earn ...
B. $24
User Nielsstampe
by
6.3k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

6.3m questions

8.3m answers

Other Questions

What is the least common denominator of the four fractions 20 7/10 20 3/4 18 9/10 20 18/25
What is 0.12 expressed as a fraction in simplest form
Solve using square root or factoring method plz help!!!!.....must click on pic to see the whole problem
What is distributive property ?
What is the measure of xyz
Link Copied!