SOLUTION: JACK INVESTED $5000 IN A TIME DEPOSIT. WHAT INTEREST WILL HE EARN FOR 1 YEAR IF THE INTEREST RATE IS 6.5%?

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Question 117052: JACK INVESTED $5000 IN A TIME DEPOSIT. WHAT INTEREST WILL HE EARN FOR 1 YEAR IF THE INTEREST RATE IS 6.5%?
Answer by checkley71(8403) About Me  (Show Source):
You can put this solution on YOUR website!
I=P*R*T
I=5000*.065*1
I=$325 IS THE AMOUNT OF INTEREST.