animestorm552 animestorm552

06-03-2020
Mathematics

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Jeremy invested $60,000 earning 6.5% simple interest. How much interest will he earn over 5 years?

Respuesta :

Onoriodefelix Onoriodefelix

06-03-2020

Answer:

$19500

Step-by-step explanation:

Interest = PRT/100

Where

P = principal

R = rate

T = time

Given

P = $60000

R = 6.5%

T = 5 yrs

Interest = 60000 x 6.5 x 5 /100

Multiply through

1950000/100

19500

$19500

He will earn $19500 interest over 5 years

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