/*! This file is auto-generated */ .wp-block-button__link{color:#fff;background-color:#32373c;border-radius:9999px;box-shadow:none;text-decoration:none;padding:calc(.667em + 2px) calc(1.333em + 2px);font-size:1.125em}.wp-block-file__button{background:#32373c;color:#fff;text-decoration:none} Q. 124 Carleen deposited $16,400 in a b... [FREE SOLUTION] | 91影视

91影视

Log out

Learning Materials

Features

Discover

Chapter 3: Q. 124 (page 334)

Carleen deposited $16,400 in a bank account with interest rate 3.9%. How much interest was earned in 8 years?

Short Answer

Expert verified

The interest earned in 8 years will be $5116.8

Step by step solution

01

Step. 1 Given Information

We have Principle amount p=16,400

rate of interest r=3.9%=0.039

Time in yearst=8years

02

Step. 2 Formula and calculation for simple interest

As we know the formula to find the simple interest is:

I=prt,wherepisindollars,ristherateandtistimeinyears.

So, putting the values in the formula we get the total interest earned which is as follows:

I=prtI=16400脳0.039脳8I=5116.8

So, the total interest earned is $5116.8

Unlock Step-by-Step Solutions & Ace Your Exams!

  • Full Textbook Solutions

    Get detailed explanations and key concepts

  • Unlimited Al creation

    Al flashcards, explanations, exams and more...

  • Ads-free access

    To over 500 millions flashcards

  • Money-back guarantee

    We refund you if you fail your exam.

Over 30 million students worldwide already upgrade their learning with 91影视!

One App. One Place for Learning.

All the tools & learning materials you need for study success - in one app.

Get started for free

Most popular questions from this chapter

A cash box of \(1and \)5bills is worth \(45. The number of \)1 bills is three more than the number of $5 bills. How many of each bill does it contain

Find 鈸� the amount of discount and 鈸� the sale price:

Sergio bought a belt that was discounted 40% from an original price of $29.

Chi has $11.30in dimes and quarters. The number of dimes is three more than three times the number of quarters. How many of each are there?

What percent of 1800 is846?

Ethan and Leo start riding their bikes at the opposite ends of a 65-mile bike path. After Ethan has ridden 1.5hours and Leo has ridden 2hours, they meet on the path. Ethan鈥檚 speed is six miles per hour faster than Leo鈥檚 speed. Find the speed of the two bikers.
See all solutions

Recommended explanations on Math Textbooks

Decision Maths

Read Explanation

Applied Mathematics

Read Explanation

Probability and Statistics

Read Explanation

Mechanics Maths

Read Explanation

Logic and Functions

Read Explanation

Discrete Mathematics

Read Explanation
View all explanations

What do you think about this solution?

We value your feedback to improve our textbook solutions.

Study anywhere. Anytime. Across all devices.