SOLUTION: Alfred wants to invest $4,000 at 6% simple interest rate for 5 years. How much interest will he receive?

SOLUTION: Alfred wants to invest $4,000 at 6% simple interest rate for 5 years. How much interest will he receive?

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Question 166625: Alfred wants to invest $4,000 at 6% simple interest rate for 5 years. How much interest will he receive?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Alfred wants to invest $4,000 at 6% simple interest rate for 5 years. How much interest will he receive?
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I = Prt
I = 4000*0.06*5 = $1200
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Cheers,
Stan H.
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