Abdrew2019 Abdrew2019
  • 02-12-2020
  • Business
contestada

How much interest does a $407 investment earn at 6% over seven years?

Respuesta :

Samawati
Samawati Samawati
  • 02-12-2020

Answer:

$170.94

Explanation:

interest is calculate using the formula

I= p x r x t

where p = principle amount: $407

r = interest rate: 6% or 0.06

t= time: 7 year

I= $407 x 0.06 x 7

I= $24.42 x 7

I= $170.94

Answer Link

Otras preguntas

“Birmingham Sunday “ by richard firaña and “ballad of Birmingham “by dudley randall are both
Chanel is renting a digital video recorder from a cable supplier for a start up fee of $45 plus $5 per month. She has a budget of $250. What is the maximum nu
Ray SU is an angle bisector of ∠RST. The measure of ∠TSU is 42°. What is the measure of ∠RSU? 90° 84° 42° 168°
It is a 3-kilometer hike to the river PJ Walks for 500 then he walks another 1050 how many more kilometers must PJ walk to reach the River
Show work please help
identify the slope and intercept of the linear equation y=1/5x-6
One of the chief obstacles in john kennedy's presidential bid in 1960 was his
hiw did women and minorities join in the war effort
This is for a math project. Anyone have names for a cereal box? *must be original and unique*
Jewett uses _________ to link the natural setting with the townspeople.