Register

Jack earned $972 in 6 years on an investment at a 3% annual simple interest rate. How much was Jack’s investment? $174.96 $486 $1944 $5400 show your work

Jack earned $972 in 6 years on an investment at a 3% annual simple interest rate. How much was Jack’s investment? $174.96 $486 $1944 $5400 show your work
asked 109k views
4 votes
Jack earned $972 in 6 years on an investment at a 3% annual simple interest rate. How much was Jack’s investment?

$174.96

$486

$1944

$5400
show your work

asked
User AmerllicA
by
7.0k points

2 Answers

3 votes

The answer is $174.96


answered
User Leatrice
by
7.8k points
3 votes
5400.

I = Prt
972 = P(0.03)(6)
972 = P(0.18)

P = 972/(0.18)

P = 5400
answered
User Hvtilborg
by
7.8k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
Link Copied!