Ask a New Question

If $6000 invested for one year yields $390 in interest, find the investment rate.

how do I set up this problem?

1 answer

6000r = 390
r = 390/6000 = 0.065 or 6.5%

Similar Questions

A certain amount of money is invested at 6% per year. A second amount is P5000 larger than the first is invested at 8% per year.
1. 1 answer
A certain amount of money is invested at 6% per year. A second amount is P5000 larger than the first is invested at 8% per year.
1. 1 answer
two investments totaling $35,000 produce an annual income of $1395. One investment yields 6% per year, while the other yields 3%
1. 2 answers
Two investments totaling$49,500 produce an annual income of $1770. One investment yields 2% per year, while the other yields 4%
1. 2 answers

more similar questions