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.
-
Identify the annual interest rate (r). Since the rate is not specified in the question, let's assume it is .
-
Identify the time period (t) in yea Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI
Similar Questions
You expect to have $ 8 000$8 000 in one year. A bank is offering loans at 3.5 %3.5% interest per year. How much can you borrow today?
An investment offers to pay $100 a year forever starting at the end of year 6. If the interest rate is 8%, what is the investment's value today?
A sum of ₹15,000 is invested at a simple interest rate of 8% per annum. What will be the total amount after 4 years, including the principal?
If you invest $5,000 at an annual simple interest rate of 4%, how much interest will you earn in 3 years?
What is the simple interest on Rs. 90000 for 5 years at 8% per annum rate of interest?Question 6Answera.Rs. 32000b.Rs. 46000c.Rs. 30000d.Rs. 36000
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.