How do you do this problem: Find the simple interest when $6,000 is deposited at an interest rate of 3% for 4 years.
1 answer:
Answer:
The simple interest is $720.
Step-by-step explanation:
This is a simple interest problem.
The simple interest formula is given by:
In which E are the earnings, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.
In this problem, we have that:
So
The simple interest is $720.
You might be interested in
Answer:
<em>The correct option is: C. </em>
Step-by-step explanation:
The two angles of the triangle are given as 60° and 60°
As the sum of all three angle in any triangle is always 180°, so the measure of the third angle will be: 180°-(60°+60°) = 180° - 120° = 60°
Now each angle of the triangle is 60°, it means the triangle is equilateral.
The base of the triangle is given as 12. So, the length of each side will be 12.
That means, the value of
Now in the left right triangle.....
So, the value of
Answer:
Part A:
Rent = $7380
Mortgage payments = $9800
Insurance = $145
Taxes, insurance, maintenance = = $2830
Loss of Interest on security deposit = (650*6%) = $39
Interest lost on down payment and closing cost = (4,500*6%) = $270
Growth in equity = $225
Annual appreciation = $1700
Tax savings for mortgage interest = (9,575*28%) = $2,681
Tax savings for property taxes = (1,780*28%) = $498
Total rental cost = dollars
Total buying costs = dollars
Part B:
You should consider rent because the cost of renting is less than the cost of buying.