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math

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Tamara invests $30,000 in an account earning 7% interest per year over the next 4 years.
How much (simple) interest will her investment earn in total?

  • math - ,

    the first thing you do is divide 30000 with 100:
    300 = 1%
    multiply it by seven to count the percentage
    300x7 = 2100
    multiply it by 4 to count the total via years
    2100x4 = $8400

    The answer is $8400 in total :)

  • math - ,

    I = PRT
    (Interest, I = Principal, P * Rate, R * Time, T
    P = 30,000
    R = 7% = 0.07
    T = 4

    I = 30,000 * 0.07 * 4
    I = 2100 * 4
    I = 8400

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