SOLUTION: Using the formula above, calculate the interest earned for an investment of $15,000 at a rate of 5% over 10 years.

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Question 917127: Using the formula above, calculate the interest earned for an investment of $15,000 at a rate of 5% over 10 years.
Found 2 solutions by ewatrrr, Braniac:
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
Simple Interest = Prt
If simple interest
I = $15,000(.05)((10yr) = $7,500

Answer by Braniac(2) About Me  (Show Source):
You can put this solution on YOUR website!
Using I=PRT/100
I=15000*5*10/100
=750000/100
=#7,500