If $6000 is invested at 7% simple interest for 4 months, how much interest is earned?

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asked Jan 17, 2018 138k views

1 Answer

LMS · Answer 1 · 2018-01-22T12:33:38+0000

You can use the simple interest formula.
S = Prt
S = Simple Interest
P = Principle = 6000
r = rate = 7% = .07
t = time = 4

S = 6000 * .07 * 4
S = $1680

If $6000 is invested at 7% simple interest for 4 months, how much interest is earned?

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