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OpenStudy (anonymous):
The simple interest formula I equals p times r times t gives the interest earned on an investment of p dollars at interest rate r for a time of t years. How much does Hector need to invest at a rate of 2% in order to earn $25 interest in 3 years?
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OpenStudy (anonymous):
25=p(.02)(3) 25= p(.06) or 25=.06p divide 25/.06 = 416.67
OpenStudy (anonymous):
Hector needs to invest $416.67 to earn $25 in 3 years
OpenStudy (anonymous):
tnks
OpenStudy (anonymous):
No problem :D:
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