Answered

Welcome to Westonci.ca, the ultimate question and answer platform. Get expert answers to your questions quickly and accurately. Experience the ease of finding accurate answers to your questions from a knowledgeable community of professionals. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.

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 :

semsee45

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.

We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. Westonci.ca is your go-to source for reliable answers. Return soon for more expert insights.