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What is the simple interest earned on an investment of $12,625 in mutual funds for 12 1/2 years at a rate of 4%?​

What is the simple interest earned on an investment of $12,625 in mutual funds for 12 1/2 years at a rate of 4%?​
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What is the simple interest earned on an investment of $12,625 in mutual funds for 12 1/2 years at a rate of 4%?​

asked
User Sam Rockett
by
8.0k points

1 Answer

4 votes

Answer:

$18937.5

Explanation:

4% = $505

505 x 12 1/2 = 6312.5

12625+6312.5 = 18937.5

answered
User Pankaj Lahoti
by
8.0k points
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