If $1500 is invested for 16 months at a simple interest rate of 4.1% per year, how much interest is earned? Round your answer to two decimal places if rounding is necessary. There is a $ sign already written next to the answer box, so do not type a $ sign in your answer.
If $1500 is invested for 16 months at a simple interest rate of 4.1% per year, how much interest is earned? Round your answer to two decimal places if rounding is necessary. There is a $ sign already written next to the answer box, so do not type a $ sign in your answer.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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If $1500 is invested for 16 months at a simple interest rate of 4.1% per year, how much interest is earned? Round your answer to two decimal places if rounding is necessary. There is a $ sign already written next to the answer box, so do not type a $ sign in your answer.
Transcribed Image Text:If $1500 is invested for 16 months at a simple interest rate of 4.1% per year, how much interest is earned? Round your answer
to two decimal places if rounding is necessary. There is a $ sign already written next to the answer box, so do not type a $ sign
in your answer.
$
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