Ask
your own question, for FREE!
Mathematics
41 Online
OpenStudy (anonymous):
4. Keisha's parents want to save twenty thousand dollars in her college savings account over the next twenty years. They have eight thousand dollars to use as an initial deposit. What simple annual interest rate do they need to meet their goal? Round your answer to the nearest tenth. 2% 3.3% 7.5% 9%
Still Need Help?
Join the QuestionCove community and study together with friends!
OpenStudy (anonymous):
I = prt
OpenStudy (anonymous):
Simple Interest Equation I equals p times r times t Simple interest I is the product of the principal p, the annual interest rate r (written as a decimal), and the time t (in years).
OpenStudy (anonymous):
Rearrange that equation and get: \[r=(I)/(pt)\] Now we just plug in the values from the question: \[r=(12000)/(8000 \times 20)\] \[r=.075=7.5 percent\]
Can't find your answer?
Make a FREE account and ask your own questions, OR help others and earn volunteer hours!
Join our real-time social learning platform and learn together with your friends!
Join our real-time social learning platform and learn together with your friends!
Latest Questions
ShadowKid3:
So, I made this character I'm thinking of making mini animations with. Any sugges
58 minutes ago
7 Replies
0 Medals
luhbabyliyahh:
How you all feeling? You wanna come back and check on the site and like 2025 type
3 hours ago
36 Replies
0 Medals
alyviahwillis:
if anyone has any questions feel free to DM me... I don't mind at all.
4 hours ago
0 Replies
0 Medals
alyviahwillis:
hey yall so how are yall doing today? also if you need someone to talk to let me
4 hours ago
13 Replies
2 Medals
Juss1Jordan:
Sometimes losing a friendship that meant the world to you means that God was keeping you out of things he KNEW you wouldn't be able to handle, God block cer
5 hours ago
5 Replies
1 Medal
Bbygirl15:
Por quu00e9 es difu00edcil agradarle a tu mejor amigo cuando a u00e9l le agradast
7 hours ago
6 Replies
0 Medals