Posted by Jordan on Monday, March 9, 2009 at 7:23pm.
Erin Grabish recevied $2,000 for speaking at a financial planning seminar. Erin invested the money in a certificate of deposit for 2 years. When she redeemed the certificate of deposit, she received $2166. What simple interest rate did Erin receive on this certificate of deposit?
- algebra interest word problem - Reiny, Monday, March 9, 2009 at 7:26pm
this problem has the same structure as the one I answered for you 4 minutes ago.
The only difference is that one has to conclude that the amount of interest is $166
let me know what rate you got.
- algebra interest word problem - Jordan, Monday, March 9, 2009 at 7:32pm
i don't know how to work it. didn't work out.
- algebra interest word problem - Reiny, Monday, March 9, 2009 at 7:39pm
Just like before
R = I/PT
- algebra interest word problem - Jordan, Monday, March 9, 2009 at 7:46pm
its $2166 NOT $166
- algebra interest word problem - Reiny, Monday, March 9, 2009 at 7:48pm
She deposited 2000 and got back 2166
how much did she make ?
Isn't that the interest ?
- algebra interest word problem - Jordan, Monday, March 9, 2009 at 8:11pm
i don't know
Answer This Question
More Related Questions
- MATH - Mabel has $35,000 to invest in a certificate of deposit for 4 years. The ...
- math - Two investments earn a total annual income of $2825. One investment is in...
- Math - Gabe placed $2000 in a certificate of deposit. He earned $10 in interest ...
- math - Sonia received a statement on her Certificate of Deposit showing that her...
- Math - Using the formula. I =Prt ,calculate the simple interest where t=1/n and ...
- algebra - Glenn invested some money is a certificate of deposit (CD) with an ...
- math - Ronelio invests $29,000 in two one-year certificates of deposit. One ...
- accounting - What is the future value of 10,000 invested in 5 years Certificate ...
- math - you are going to open a certificate of deposit $500 for 3 years with 2% ...
- algebra 2 - how much money will betty need, to the nearest cent, to invest in a ...