SOLUTION: Alfred wants to invest $4,000 at 6% simple interest rate for 5 years. How much interest will he receive?
Algebra.Com
Question 160538: Alfred wants to invest $4,000 at 6% simple interest rate for 5 years. How much interest will he receive?
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
4,000(1+.06)^5=4,000(1.06)^5=4,000*1.338=$5,3552.90-$4,000=$1,352.90 is the interest.
RELATED QUESTIONS
Alfred wants to invest $4,000 at 6% simple interest rate for 5 years. How much interest... (answered by stanbon)
Alfred wants to invest $4,000 at 6% simple intetest rate for 5 years. How much interest... (answered by jorel555)
Alfred wants to invest $4,000 at 6% simple interest rate for 5 years. How much interest... (answered by Mathtut)
alfred wants to invest 4000 at 6% simple rate for 5 years. how much interest will he... (answered by robertb)
Alfred wants to invest $4,000 at 6% simple interest rate for 5 years. How much interest... (answered by ljtrimble)
Shahab has an opportunity to invest in a fund which earns 6% profit compounded annually.... (answered by Theo)
An investor will invest a total of $15000 in two accounts, one paying 4% annual simple... (answered by SAT Math Tutor)
Art wants to know how much he'll have to invest today to receive an annuity of $8,000 for (answered by Theo)
1. Ellen has $8000 to invest in an RESP (Registered Education Savings Plan) for 7 years.... (answered by josmiceli)