A community for students.
Here's the question you clicked on:
← 55 members online
 0 viewing
anonymous
 one year ago
Nelson invested $500.00 in a certificate of deposit that pays 2.5% simple interest when it matures according to the formula below.
I = Prt
In the formula, I represents interest, P represents the money invested, or principal amount, r is the simple interest rate, and t represents the time, in years, that the money is invested.
If Nelson will earn $62.50 in interest when the certificate of deposit matures, how long will it take to mature?
anonymous
 one year ago
Nelson invested $500.00 in a certificate of deposit that pays 2.5% simple interest when it matures according to the formula below. I = Prt In the formula, I represents interest, P represents the money invested, or principal amount, r is the simple interest rate, and t represents the time, in years, that the money is invested. If Nelson will earn $62.50 in interest when the certificate of deposit matures, how long will it take to mature?

This Question is Closed
Ask your own question
Sign UpFind more explanations on OpenStudy
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.