You earn $10.00hr. you invest $4,000.00 at an interest rate of 5% apr for a year. how much interest did that savings earn in a year in terms of hours of work?

A.) 100 hrs

b.) 20hrs

c.) 40hrs

d.) 400 hrs.

Question

Mathematics

Hudson Hanna

2 January, 18:36

You earn $10.00hr. you invest $4,000.00 at an interest rate of 5% apr for a year. how much interest did that savings earn in a year in terms of hours of work?

A.) 100 hrs

b.) 20hrs

c.) 40hrs

d.) 400 hrs.

+1

Answers (1)

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Maverick Ryan · Answer 1

You are investing $2,000 fro 3 months and the APR is 4% so you will get one quarter of the APR for a year. For the year 4% interest is $2,00 x. 04 or $80 for the year. # months is 1/4 of a year so divide $80 by 4 to get the interest fro 3 months which is 20 so the answer is B.

You earn $10.00hr. you invest $4,000.00 at an interest rate of 5% apr for a year. how much interest did that savings earn in a year in terms of hours of work?A.) 100 hrsb.) 20hrsc.) 40hrsd.) 400 hrs.

You earn $10.00hr. you invest $4,000.00 at an interest rate of 5% apr for a year. how much interest did that savings earn in a year in terms of hours of work?

A.) 100 hrs

b.) 20hrs

c.) 40hrs

d.) 400 hrs.