A private investor loans $4,500 to a new business at an annual interest rate of % for 8 years. How much interest will the investor earn after those 8 years?
Question
Solution 1
Sure, let's solve this step by step.
Identify the principal amount (P), which is the initial amount of the loan. ( P = $4,500 )
Identify the annual interest rate (r). Since the rate is not specified in the question, let's assume it is ( r % ).
Identify the time period (t) in yea Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
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