SOLUTION: I asked this question earlier but maybe I did not word it correctly. I do not need to work the problem out, I only need to identify the rate base and amount and wanted someone to

Question 47584This question is from textbook Beginning Algebra
: I asked this question earlier but maybe I did not word it correctly. I do not need to work the problem out, I only need to identify the rate base and amount and wanted someone to check my answer, not solve it. Thank you though.
Please check my answer!
Instructions: Identify the rate, base and amount in the following application(do not solve the application at this point)
Question:
Paul invested $5000.00 in a time deposit, what interest will he earn for 1 year if the interest rate is 6.5%
My answer:
base=$5000.00
rate=6.5%
amount = unknown
Did I do this correctly based on the info that I provided?
Thank You! This question is from textbook Beginning Algebra

Answer by venugopalramana(3286) (Show Source): You can put this solution on YOUR website!
I asked this question earlier but maybe I did not word it correctly. I do not need to work the problem out, I only need to identify the rate base and amount and wanted someone to check my answer, not solve it. Thank you though.
Please check my answer!
Instructions: Identify the rate, base and amount in the following application(do not solve the application at this point)
Question:
Paul invested $5000.00 in a time deposit, what interest will he earn for 1 year if the interest rate is 6.5%
My answer:
base=$5000.00
rate=6.5%
amount = unknown
OK..ALSO PUT
I=?? TO BE FOUND
TIME PERIOD =1 YEAR.
FORMULA
I =PTR/100
A=P+I
Did I do this correctly based on the info that I provided?
Thank You!
You may edit the question. Maybe convert formulae
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