What is the amount of money, P, that will generate $40 in interest at a 10% interest rate over 5 years?

$60

$80

$90

$100

Question

Mathematics

Yair Frederick

24 May, 03:53

What is the amount of money, P, that will generate $40 in interest at a 10% interest rate over 5 years?

$60

$80

$90

$100

+1

Answers (1)

Know the Answer?

Wall · Answer 1

Remember that you can do anything to an equation as long as you do it to both sides

so

I=PRT

divide both sides by RT

=P

P=?

I=40

R=10%=0.1

T=5

plug it in

=P

=P

80=P

answer is B, $80

What is the amount of money, P, that will generate $40 in interest at a 10% interest rate over 5 years?$60$80$90$100

What is the amount of money, P, that will generate $40 in interest at a 10% interest rate over 5 years?

$60

$80

$90

$100