Register
Find the interest earned and the total cost for each given principal, interest rate, and time. Please solve the questions and show your work please. A) $3,000, 4.25% 8 years B) $5,400, 6%, 3 years
198k views
1 vote
Find the interest earned and the total cost for each given principal, interest rate, and time. Please solve the questions and show your work please.

A) $3,000, 4.25% 8 years
B) $5,400, 6%, 3 years

User Icube
by
8.1k points

2 Answers

4 votes
I (interest) P (total amount deposited in the bank) R (interest) T (time in years)
I = P * R * T / 100
A——I=$3,000*4.25%*8/100=1020
B——I=$5,400*6%*3/100=972

3000 (the money he received) interest1020… so we add + = 4020 $ will be received from the bank ,,, or you have to pay it

5400 + 972 (interest) = $ 6372
User Addict
by
8.4k points
3 votes
The answer is A: 3,00
User Dave Cameron
by
8.4k points
← Prev Question Next Question →

No related questions found

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

9.5m questions

12.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
How do you estimate of 4 5/8 X 1/3
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
Write words to match the expression. 24- ( 6+3)
A dealer sells a certain type of chair and a table for $40. He also sells the same sort of table and a desk for $83 or a chair and a desk for $77. Find the price of a chair, table, and of a desk.
Link Copied!