Answered

At IDNLearn.com, find answers to your most pressing questions from experts and enthusiasts alike. Discover prompt and accurate answers from our experts, ensuring you get the information you need quickly.

Ivy invested $150 000 in a savings account that offers to pay simple interest of 0.2% per year. How much interest will she receive at the end of one year?

Sagot :

4030859idn

Answer:

The answer is the CD was for 3 years.

Step-by-step explanation:

First, write the equation.

I=Prt

Next, substitute the given values.

$198=$1,200×5.5%×t

Next, write the percent as a decimal.

$198=$1,200×0.055×t

Next, simplify.

$198=$66×t

Then, solve for t.

3=t

Your participation means a lot to us. Keep sharing information and solutions. This community grows thanks to the amazing contributions from members like you. IDNLearn.com is your source for precise answers. Thank you for visiting, and we look forward to helping you again soon.