MATH SOLVE

4 months ago

Q:
# Drag the descriptions of each investment into order, from which will earn the least simple interest to which will earn the most simple interest. C Investment of $3,000 at 5% simple interest for 20 years Investment of $1,000 at 16% simple interest for 20 years Investment of $3,000 at 16% simple interest for 2 years

Accepted Solution

A:

Answer: Third investment is the least simple interest and Second investment is the most earned simple interest.Step-by-step explanation:Since we have given that Investment of $3,000 at 5% simple interest for 20 years
.Simple interest would be [tex]\dfrac{3000\times 5\times 20}{100}\\\\=\$3000[/tex]Investment of $1,000 at 16% simple interest for 20 years
Simple interest would be [tex]\dfrac{1000\times 16\times 20}{100}\\\\=\$3200[/tex]Investment of $3,000 at 16% simple interest for 2 years.Simple interest would be [tex]\dfrac{3000\times 16\times 2}{100}\\\\=\$960[/tex]Hence, Third investment is the least simple interest and Second investment is the most earned simple interest.