Maggie has $14,100 to invest, and wishes to gain $4,000 in interest over the next eight years. approximately what is the minimum simple interest rate maggie needs to reach her goal? a. 2.89% b. 3.55% c. 4.95% d. 5.18%
Maggie Has $14,100 To Invest, And Wishes To Gain $4,000 In Interest Over The Next Eight Years. Approximately What Is The Minimum Simple Interest Rate Maggie Needs To Reach Her Goal? A. 2.89% B. 3.55% C. 4.95% D. 5.18%
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Maggie Has $14,100 To Invest, And Wishes To Gain $4,000 In Interest Over The Next Eight Years. Approximately What Is The Minimum Simple Interest Rate Maggie Needs To Reach Her Goal? A. 2.89% B. 3.55% C. 4.95% D. 5.18%. $$\text {simple interest} = \text {principal} \times \text {rate} \times. Maggie would need a minimum simple interest rate of approximately 3.55% to reach her goal of $4,000 in interest over eight years.
SOLVED Maggie has 14,100 to invest and wishes to gain4,000 in interest from www.numerade.com
To determine the minimum simple interest rate maggie needs to reach her goal, we can use the formula for simple interest: Maggie has $14,100 to invest, and wishes to gain $4,000 in interest over the next eight years. The principal is $14,100 while the time is 8.
The Interest Is Already Given At $4,000.
Approximately what is the minimum simple interest rate maggie needs to reach her goal? Maggie would need a minimum simple interest rate of approximately 3.55% to reach her goal of $4,000 in interest over eight years. Arthur has $19,500 to invest, and wishes to gain $8,000 in interest over eleven years.
Maggie Has $14,100 To Invest, And Wishes To Gain $4,000 In Interest Over The Next Eight Years.
To determine the minimum simple interest rate maggie needs to reach her goal, we can use the formula for simple interest: Let us simplify the squeezed. 800 ÷ 14,100 =.0355 = 3.55% answer is b.
Approximately What Is The Minimum Simple Interest Rate That Arthur Needs To Achieve His Goal?.
To find the minimum simple interest rate that maggie needs to achieve her goal of earning $4,000 in interest from an investment of $14,100 over eight years, we can follow these. The principal is $14,100 while the time is 8. Simple interest is the rate usually set by lenders to borrowers for a loan.
Maggie needs a minimum simple interest rate of approximately 3.55% to achieve her goal of earning $4,000 over 8 years. So the correct answer is option (b) 3.55%. To determine the minimum simple interest rate maggie needs, we can use the formula for simple interest, which is:
To Find The Minimum Simple Interest Rate Necessary For Maggie To Reach Her Goal Of $4,000 In Interest Over The Next Eight Years With Her Initial Investment Of $14,100, We Can Use.
