mthomas81 mthomas81
  • 03-07-2018
  • Mathematics
contestada

how much should you invest at 4% simple interest in order to earn $50 interest in 6 months

Respuesta :

mathmate
mathmate mathmate
  • 03-07-2018
Simple interest formula
Interest = Pit = $50
P=principal (initial investment)
i=annual interest rate = 0.04
t=time in years = 6 months = 0.5 years

Substitute values,
$50 = P*0.04*0.5 
Solve for P
P=$50/(0.04*0.5)=$2500


Answer Link

Otras preguntas

What is 3.82 rounded to the nearest whole number?
what is 12,430,090 in expanded form
What is 3,200,000,000,000 in scientific notation
What is 5000 one tenth of?
What is the value of 5 in 356,039,763
Write 0.632 in 2 forms
Two trains leave the station at the same time, one heading East and the other heading West. The westbound train is going 60mph. The eastbound train is going 80m
factor the question=x^2-14x+49
what does alignment mean in dance?
What is 70,030,000 in scientific notation