# SOLUTION: Paul invested \$5000 in a time deposit. What interest will he earn for 1 year if the interest rate is 6.5%

Algebra ->  Algebra  -> Coordinate Systems and Linear Equations -> SOLUTION: Paul invested \$5000 in a time deposit. What interest will he earn for 1 year if the interest rate is 6.5%      Log On

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 Question 109231: Paul invested \$5000 in a time deposit. What interest will he earn for 1 year if the interest rate is 6.5%Answer by HyperBrain(694)   (Show Source): You can put this solution on YOUR website!The formula for interest is where I=interest ______P=principal(reference amount) ______r=rate ______t=time Here, , , and So, Therefore, the interest earned is \$325 Power up, HyperBrain!