leviburton092503 leviburton092503
  • 16-01-2019
  • Mathematics
contestada

what is the amount of money, P, that will generate $40 in interest at a 10% interest rate over 5 years

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jdoe0001 jdoe0001
  • 16-01-2019

[tex]\bf ~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\dotfill&40\\ P=\textit{original amount deposited}\dotfill\\ r=rate\to 10\%\to \frac{10}{100}\dotfill &0.10\\ t=years\dotfill &5 \end{cases} \\\\\\ 40=P(0.10)(5)\implies \cfrac{40}{(0.10)(5)}=P\implies 80=P[/tex]

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kennedy315 kennedy315
  • 14-12-2021

Answer:$60 on edge

Step-by-step explanation: i took the exam on edge

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