SOLUTION: Paula invests for 5 years at an interest rate of per year. If the interest is simple interest, how much is her investment worth at the end of those five years?
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Question 622392: Paula invests for 5 years at an interest rate of per year. If the interest is simple interest, how much is her investment worth at the end of those five years?
Let represent the amount of the initial investment. Simple interest is calculated based only on the amount of the initial investment, so the amount earned each year is . The total will be the number of years times the amount earned each year.
John
My calculator said it, I believe it, that settles it
