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:
This is an ellipse.
Step-by-step explanation:
Applying the angle values in intervals of right angles (90°), the resulting set of values for z are:
(again)
If you look at the plot, you will observe how these values represent points in the xy plain. All of them belong to either the x or the y axis.
The resulting figure for the whole set of values of is in fact an ellipse.
