SOLUTION: Alfred wants to invest $4,000 at 6% simple interest rate for 5 years. How much interest will he receive? I used the formula but i did not get the right answer, ineed to see w
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Question 126956: Alfred wants to invest $4,000 at 6% simple interest rate for 5 years. How much interest will he receive? I used the formula but i did not get the right answer, ineed to see waht im doing wrong, thanks. Answer by ljtrimble(2) (Show Source):
You can put this solution on YOUR website! Hopefully this is helpful
our algebra teacher explained it as this
TimexRateXamount
when I plug your numbers in
i get:
5x6%x4000
which equals 1200$
hope it helps
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