kamdynmcgowan kamdynmcgowan
  • 20-10-2020
  • Mathematics
contestada

How much interest would you earn on a $5,000 investment after 4 years at 3%
APR?

Respuesta :

sqdancefan
sqdancefan sqdancefan
  • 20-10-2020

9514 1404 393

Answer:

  $600

Step-by-step explanation:

Put the give numbers into the interest formula and do the arithmetic.

  I = Prt . . . . . interest on principal P at rate r for time t

  I = $5000×0.03×4 = $600

You would earn $600 interest.

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