3 years ago

if you invested $45,000 for 8 months at an interest rate of 2.75 % how much interest would you earn?

Mathematics

1 answer:

Masteriza [31]3 years ago

4 0

Answer:

You'd earn $825 in interest.

Step-by-step explanation:

The appropriate formula for simple interest is i = p·r·t, where p is the principal, r is the interest rate as a decimal fraction, and t is the time in years. Because 8 months constitutes 2/3 year, we have:

i = $45,000·(0.0275)(2/3) = $825.

You'd earn $825 in interest.

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Read 2 more answers

if you invested $45,000 for 8 months at an interest rate of 2.75 % how much interest would you earn?​

if you invested $45,000 for 8 months at an interest rate of 2.75 % how much interest would you earn?