SOLUTION: alice invested 3,000 at a rate of 4 percent per year. How much interest will she receive after 5 years?
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Question 709554: alice invested 3,000 at a rate of 4 percent per year. How much interest will she receive after 5 years?
Answer by jerryguo41(197) (Show Source): You can put this solution on YOUR website!
Alice will receive;
Where;
I= Interest
P= Total Amount
x= Years
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Plug in numbers:
or
P=3659.96 total amount
-----------------------------
Find Interest
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Alice gained a total of 659.96 dollars
Alice also has 3659.96 dollars in her investment account
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