SOLUTION: Shane invests $18,000 in bonds that earn simple interest of 6%. The interest is payable at the maturity of the bonds after 5 years. Find the total amount that Shane will receive at

Algebra ->  Algebra  -> Percentage-and-ratio-word-problems -> SOLUTION: Shane invests $18,000 in bonds that earn simple interest of 6%. The interest is payable at the maturity of the bonds after 5 years. Find the total amount that Shane will receive at      Log On

Ad: Algebrator™ solves your algebra problems and provides step-by-step explanations!
Ad: Algebra Solved!™: algebra software solves algebra homework problems with step-by-step help!

   


Question 251455: Shane invests $18,000 in bonds that earn simple interest of 6%. The interest is payable at the maturity of the bonds after 5 years. Find the total amount that Shane will receive at the end of 5 years.
Answer by richwmiller(9144) About Me  (Show Source):
You can put this solution on YOUR website!
18000*.06*5 +18000 =principal + interest after 5 years