# SOLUTION: find the interest on \$2700 that is invested at 4% for 2 1/2.

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 Click here to see ALL problems on Money Word Problems Question 287103: find the interest on \$2700 that is invested at 4% for 2 1/2. Answer by stanbon(57967)   (Show Source): You can put this solution on YOUR website!find the interest on \$2700 that is invested at 4% for 2 1/2 yrs. ------------------ What kind of interest? simple or compound? If simple interest Interest = Prt = (2700)(0.04)(2.5) = \$270 ---------------- If compounded annually: Interest = (2700)(1+0.04)^2.5 - 2700 = 2700[(1.04)^2.5 - 1] = 2700[0.1030] = \$278.15 =============================== Cheers, Stan H. ===============================