Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

How much interest will be earned on $ 5000 in 5 months if the annual simple interest rate is 1.5%? a)$31.25 b)$50.25 c)$33.45 d)$105

How much interest will be earned on $ 5000 in 5 months if the annual simple interest rate is 1.5%?
a)$31.25
b)$50.25
c)$33.45
d)$105

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Financial Management

Authors: Eugene F. Brigham, Phillip R. Daves

8th Edition

0324258917, 9780324258912

More Books

Students also viewed these Finance questions