An amount of 18,000 was invested a 8% simple interest on may 25 , 2017 , how much shall be the amount of interest earned on Octo

Question

Gwar [14]

3 years ago

6

An amount of 18,000 was invested a 8% simple interest on may 25 , 2017 , how much shall be the amount of interest earned on Octo

ber 12, 2017 using the four methods of computing the interest

Mathematics

1 answer:

aleksley [76] · Answer 1 · 2022-05-16T16:50:32+03:00

aleksley [76]3 years ago

8 0

The formula to find the amount of interest earned is I = PRT.
What is given?
Principal = $18000
Rate = .08 ( I assume you confused rate and si)
Time = .3671 in years (convert days into years) by dividing total days by 365.
I = ?

I = 18000(.08)(.3671)
I = $528.62