Simple Interest · Example 5
In the following, determine how much interest was earned on the investment and the future value of the investment, if the investment yields simple interest.
(a) Principal is $1,000, annual interest rate is 2.01%, and time is 5 years
(b) Principal is $5,000, annual interest rate is 1.85%, and time is 30 years
(c) Principal is $10,000, annual interest rate is 1.25%, and time is 18 months
(d) Principal is $7,000, annual interest rate is 3.26%, and time is 100 days
OpenStax, Contemporary Mathematics · §6.3 Simple Interest · Example 5
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