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An account earns simple interest. Find the interest earned principal, interest rate, or time

 

Question 1  interest earned ? principal $1450 interest rate 9% time 5 years

 

 

Question 2 interest earned $10 principle $250 interest rate 4% time ?

 Jan 30, 2018
 #1
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Simple interest formula :

 

Interest earned  =  Principal * Interest Rate * Time (in years)

 

So......for the first one

 

Interest earned =  1450 * (.09)  * (5)  =  $652.50

 

 

The second one is a little trickier....we have...

 

10   =  250 *  .04  * Time             simplify

 

10  =  10  * Time                       divide both sides by 10

 

1  =  Time   

 

So  ...   1  year

 

 

cool cool cool

 Jan 30, 2018

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