Question

Phoebe invested $5800 and after one year the investment was worth $6100. How much interest did she receive?

Answer 1

Amount of interest received by Phoebe = $300

Explanation:

Given:

Amount Phoebe invested = $5,800

Amount Phoebe received after one year = $6,100

Find:

Amount of interest received by Phoebe

Computation:

Amount of interest received by Phoebe = Amount Phoebe received after one year - Amount Phoebe invested

Amount of interest received by Phoebe = 6,100 - 5,800

Amount of interest received by Phoebe = $300