Answered

IDNLearn.com: Your reliable source for finding precise answers. Our experts provide timely, comprehensive responses to ensure you have the information you need.

charis invested 140 she earned a simple interest of 3% per year on the initial investment if no money was added or removed from the investment what was the amount of interest charis received at the end of the two year

Sagot :

Anjel1521idn
I= Prt 
the principal or investment (p) is !40
the rate (r) is 3% in a decimal which is .03
time (t) is 2

140 x .03 x 2= 8.4 

at the end of two year Charis earned $8.40 in interest.

Answer:

8.40

Step-by-step explanation:

Since, the simple interest is,

[tex]I=\frac{P\times r\times t}{100}[/tex]

Where,

P = Principal,

r = rate per periods,

t = number of periods,

Here, P = 140, r = 3%, t = 2,

Thus, the simple interest would be,

[tex]I=\frac{140\times 3\times 2}{100}[/tex]

[tex]=\frac{840}{100}[/tex]

= 8.40

Your participation means a lot to us. Keep sharing information and solutions. This community grows thanks to the amazing contributions from members like you. Thank you for choosing IDNLearn.com for your queries. We’re here to provide accurate answers, so visit us again soon.