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investment of $2000 at 10% simple interest for 9 years
investment of $3000 at 3% simple interest for 20 years
investment of $2000 at 10% simple interest for 3 years
Put them in order from least interest amount to greatest interest amount

Sagot :

Semsee45idn

Answer:

The last investment (C) has the least interest of $600

The other two investments (A and B) have the same amount of interest of $1800.

Step-by-step explanation:

Simple Interest Formula

I = Prt

where:

  • I = interest earned
  • P = principal
  • r = interest rate (in decimal form)
  • t = time (in years)

Investment A

  • P = $2000
  • r = 10% = 0.1
  • t = 9 years

Substitute the given values into the formula and solve for I:

⇒ I = 2000(0.1)(9)

⇒ I = $1800

Investment B

  • P = $3000
  • r = 3% = 0.03
  • t = 20 years

Substitute the given values into the formula and solve for I:

⇒ I = 3000(0.03)(20)

⇒ I = $1800

Investment C

  • P = $2000
  • r = 10% = 0.1
  • t = 3 years

Substitute the given values into the formula and solve for I:

⇒ I = 2000(0.1)(3)

⇒ I = $600

The last investment (C) has the least interest of $600.

The other two investments (A and B) have the same amount of interest of $1800.

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