document.write( "Question 103756: find fixed interest rate, if a principal of $5,000 invested for 4 years earns $900, how much interest will $6,000 invested for 3 years earn at the same interest rate?
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Algebra.Com's Answer #75568 by elima(1433)![]() ![]() ![]() You can put this solution on YOUR website! find fixed interest rate, if a principal of $5,000 invested for 4 years earns $900, how much interest will $6,000 invested for 3 years earn at the same interest rate? \n" ); document.write( "I=PRT \n" ); document.write( "900=(5000)R(4) \n" ); document.write( "900=20000R \n" ); document.write( " \n" ); document.write( ".045=R \n" ); document.write( "So the rate = .045, now use that to find interest for $6,000; \n" ); document.write( "I=(6000)(.045)(3) \n" ); document.write( "I=$810 \n" ); document.write( ":) \n" ); document.write( " |