7

An amount of $12,000 is invested at a simple interest rate of 2.15% for 3 years. What is the total investment after 3 years?

Question

contestada

Respuesta :

Starlight56lovecats Starlight56lovecats · Answer 1 · 2021-11-17T23:25:53+01:00

7 An amount of $12,000 is invested at a simple interest rate of 2.15% for 3 years. What is the total investment after 3 years?

Answer Link

ewomazinoade ewomazinoade · Answer 2 · 2022-04-14T14:09:54+02:00

The total value of the investment after 3 years given the amount invested is $12,774.

The total value of the investment is the sum of the amount invested and the interest earned.

The total value of the investment = amount invested + simple interest earned

$12,0000 + (principal x time x interest rate)

$12,000 + (12,000 x 0.0215 x 3) = $12,774

To learn more about interest, please check: https://brainly.com/question/26164549