SOLUTION: Solve for the amount of simple interest in the following: Dave invested $9,500 in a time deposit. What amount of interest will he earn for 6 years if the interest rate is 5.47%

SOLUTION: Solve for the amount of simple interest in the following: Dave invested $9,500 in a time deposit. What amount of interest will he earn for 6 years if the interest rate is 5.47%

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Question 481682: Solve for the amount of simple interest in the following: Dave invested $9,500 in a time deposit. What amount of interest will he earn for 6 years if the interest rate is 5.47%
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
I=Prt
I=9500*0.0547*6
I=$3117.90
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