If you wanted to make $798 by investing $6139 for 3 years in an account that pays simple interest, what interest rate you would need to achieve your goal?

My account
Edit my Profile
Private messages
My favorites

Ask a Question
Questions
Unanswered
Tags
Categories
Ask a Question

asked Mar 22, 2023 42.1k views

0 votes

If you wanted to make $798 by investing $6139 for 3 years in an account that pays simple interest, what interest rate you would need to achieve your goal?

Mathematics
college

Telson Alva asked

by Telson Alva

3.9k points

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

7 votes

Answer:

Below

Explanation:

6139 * x * 3 = 798

x = 798/(3*6139) = .0433= 4.33%

Vitto answered Mar 28, 2023

by Vitto

4.8k points

0 Comments

Please log in or register to add a comment.

Ask a Question

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

4.5m questions

5.9m answers

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

0 Comments

Please log in or register to add a comment.

Other Questions