Answered

At Westonci.ca, we connect you with experts who provide detailed answers to your most pressing questions. Start exploring now! Get immediate and reliable solutions to your questions from a knowledgeable community of professionals on our platform. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform.

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 appreciate your visit. Hopefully, the answers you found were beneficial. Don't hesitate to come back for more information. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Get the answers you need at Westonci.ca. Stay informed with our latest expert advice.