SOLUTION: 1. Calculate the simple interest earned if a deposit of $ 14,000 is left for 12 years at an interest rate of 5% . b. Calculate the number of years for

Question 1118203: 1. Calculate the simple interest earned if a deposit of $ 14,000 is left for 12 years at an interest rate of 5% .
b. Calculate the number of years for $80,000 when invested at the rate of 5% will give and interest of $28,000.
2. solve 1 4/5 x 3/6 � 2 1/4 =
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
1. Calculate the simple interest earned if a deposit of $ 14,000 is left for 12 years at an interest rate of 5% .
I = P*r*t
I = 14000*0.05*12 = 140*5*12 = 140*60 = $48400
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b. Calculate the number of years for $80,000 when invested at the rate of 5% will give an interest of $28,000.
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28000 = 80,000*0.05*t
28000 = 800*5t
280 = 40t
t = 7 years
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2. solve 1 4/5 x 3/6 � 2 1/4 =
= (9/5)(3/6)/(9/4)
= (3/5)(3/2)/(9/4)
= (9/10)/(9/4) = 4/10 = 2/5
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Cheers,
Stan H.
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