Write an equation to find the amount of simple interest, A, earned on a $600 investment after 1 1/2 years if the interest rate is 2%

Answers

Answer 1

Answer:

The amount of simple interest, A, earned on a $600 investment after 1 1/2 years if the interest rate is 2% , is $618 and the equation is A = 600 + 600 * 0.02 * 1.5.

What is Simple Interest ?

Simple interest is the interest calculated on the principal amount of a loan or the initial investment into a savings account.

The formula used to determine is (P*R*T)/100

It is given that Principal Investment = $600

Time = 3/2 years

Interest Rate = 2%

Amount A is given by

A = P+ (P*R*T)/100

A = 600 + 600 * 0.02 * 1.5

A = $618

The amount of simple interest, A, earned on a $600 investment after 1 1/2 years if the interest rate is 2% , is $618 .

To know more about Simple Interest

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Answer 2

Answer: i=600*0.02*1.5

i= $18

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Answers

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Answers

Answer:

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Step-by-step explanation:

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Let me know if there are problems or if i'm wrong.

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