Register
At what annual percent rate would you need to invest $12,000 and make $2,880 in interest after 8 years?
108k views
1 vote
At what annual percent rate would you need to invest $12,000 and make $2,880 in interest after 8 years?

User Scott Ivey
by
8.3k points

1 Answer

4 votes
Answer:
The rate of interest is 2.72%
Explanation:
Principal = $12000
Interest = $2880
Amount = Principal + Interest
Amount = 12000+2880
Amount = 14880
Time = 8 years
Formula :
A = amount
P = Principal
r = rate
t = time
Rate of interest = 2.72%
Hence the rate of interest is 2.72%
User Logankilpatrick
by
6.9k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

8.3m questions

10.9m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Link Copied!