The descriptions of each investment from least to greatest are:
- An investment of 1,200 at a 6% interest rate for 9 years- A = $1,848.00.
- An investment of 1,200 at a 12% interest rate for 5 years- A = $1,920.00.
- An investment of 1,200 at a 12% interest rate for 9 years - A = $2,496.00.
<h3>What is the investment about?</h3>
An investment of 1,200 at a 12% interest rate for 5 years will be:
I = A - P = $720.00
Note that:
A = P(1 + rt)
Therefore,
r = R/100 = 12%/100 = 0.12 per year.
So:
A = 1200(1 + (0.12 × 5)) = 1920
A = $1,920.00
So, The total amount accrued, principal plus interest, from simple interest on a principal of $1,200.00 at a rate of 12% per year for 5 years is $1,920.00.
At an investment of 1,200 at a 12% interest rate for 9 years:
A = $2,496.00
I = A - P = $1,296.00
Note that
A = P(1 + rt)
Therefore:
r = R/100 = 12%/100 = 0.12 per year.
So:
A = 1200(1 + (0.12 × 9)) = 2496
A = $2,496.00
Therefore, the total amount accrued, principal plus interest, from simple interest on a principal of $1,200.00 at a rate of 12% per year for 9 years is $2,496.00.
At an investment of 1,200 at a 6% interest rate for 9 years.
Note that:
I = A - P = $648.00
The Equation is:
A = P(1 + rt)
Therefore,
r = R/100 = 6%/100 = 0.06 per year.
So
A = 1200(1 + (0.06 × 9)) = 1848
A = $1,848.00
So, The total amount accrued, principal plus interest, from simple interest on a principal of $1,200.00 at a rate of 6% per year for 9 years is $1,848.00.
So, the descriptions of each investment from least to greatest are:
- An investment of 1,200 at a 6% interest rate for 9 years- A = $1,848.00.
- An investment of 1,200 at a 12% interest rate for 5 years- A = $1,920.00.
- An investment of 1,200 at a 12% interest rate for 9 years - A = $2,496.00.
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