Keiko invested $3000 in a fund for 6 years and was paid simple interest. The total interest that she received on the investment was $720. As a percentage,what was the annual interest rate of her investment?If necessary, refer to the list of financial formulas.0%

Answered: Image /qna-images/answer/6c5f2274-3d0c-4954-a5f1-abb3f08171f1.jpg

Answered: Keiko invested $3000 in a fund for 6…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

See similar textbooks

Similar questions

Latoya invested $3000 in a fund for 2 years and was paid simple interest. The total interest she received on the investment was $180. As a percentage, what was the annual interest rate of her investment?
Harvey sells robot vacuum cleaners. He earns a salary of $400 per month plus 30% of all sales. If he sold $25,000 worth of robot vacuums cleaners last month, how much was his gross pay?
Mathilda works as a real state agent in a company that sells condominium units. The pay she is to receive will be 10% of her total sales. If she sells 5 condominium units for 1 year and each condominium unit is sold for ₱2,500,000.00, how much will her commission for the year?
Kala took out a loan for 5 months and was changed simple interest at an annual rate of 6%. If the amount of the loan was $400,what is the amount of the interest she had to pay?
Maddy Brown needed start-up money for her landscape service. She borrowed $11,000 for 42 months and paid $1,617 interest on the loan. What interest rate did she pay?
Sarah opened a savings account with $800 and was paid simple interest at an annual rate of 7%. When Sarah closed the account, she was paid $112 in interest. How long was the account open, in years?
Robert bought a calculator that was on sale for 30% off the original price of $79.95.which is the closest to the sale price of the calculater
On the first day of a sale, a camera was reduced by $21.60. This represented 12% off the original price. On the last day of the sale, the camera was sold for 70% of the original price. What was the final selling price of the camera?
kenneth lent his niece $1,200 to buy a computer. two years later, she paid him back the $1,200 plus $96 interest. what was the rate of simple interest?
The simple interest charged on a loan of $15000 at the rate of 6% was $2700. Find the rate of interest.
Chen wants to buy a pair of pants that regularly costs $75 . today the pants are on 60% of the original Price. How much will Chen have to pay for the pants?
Sami wants to accumulate $2,500 over a period of 7 years so that a cash payment can be made for roof maintenance on his summer cottage. To have this amount when it is needed, he will make annual deposits at the end of each year into a savings account that earns 8 percent annual interest per year. How much must each annual deposit be? Select one: a. $244 b. $280 c. $259 d. $357

Recommended textbooks for you

Advanced Engineering Mathematics

Advanced Math

ISBN:

9780470458365

Author:

Erwin Kreyszig

Publisher:

Wiley, John & Sons, Incorporated

Numerical Methods for Engineers

Advanced Math

ISBN:

9780073397924

Author:

Steven C. Chapra Dr., Raymond P. Canale

Publisher:

McGraw-Hill Education

Introductory Mathematics for Engineering Applicat…

Advanced Math

ISBN:

9781118141809

Author:

Nathan Klingbeil

Publisher:

WILEY

Advanced Engineering Mathematics

Advanced Math

ISBN:

9780470458365

Author:

Erwin Kreyszig

Publisher:

Wiley, John & Sons, Incorporated

Numerical Methods for Engineers

Advanced Math

ISBN:

9780073397924

Author:

Steven C. Chapra Dr., Raymond P. Canale

Publisher:

McGraw-Hill Education

Introductory Mathematics for Engineering Applicat…

Advanced Math

ISBN:

9781118141809

Author:

Nathan Klingbeil

Publisher:

WILEY

Mathematics For Machine Technology

Advanced Math

ISBN:

9781337798310

Author:

Peterson, John.

Publisher:

Cengage Learning,

Basic Technical Mathematics

Advanced Math

ISBN:

9780134437705

Author:

Washington

Publisher:

PEARSON

Topology

Advanced Math

ISBN:

9780134689517

Author:

Munkres, James R.

Publisher:

Pearson,

SEE MORE TEXTBOOKS

Keiko invested $3000 in a fund for 6 years and was paid simple interest. The total interest that she received on the investment was $720. As a percentage, what was the annual interest rate of her investment?