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How do you find the simple interest on an investment of $4,000 at 5% for 3 year?

Answer 1

Ethan Adkins

$600

Just multiply the percentage by the total number of years after determining it.

10%=400 so 5%=200 $200 interest a year for 3 years is$ 600 in total interest.

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Answer 2

Eva Abramson

To find the simple interest on an investment, multiply the principal amount (in this case, $4,000) by the interest rate (5%) and the time period (3 years), then divide by 100.

So, Simple Interest = (Principal * Rate * Time) / 100 = (4000 * 5 * 3) / 100 = (200 * 3) = $600

Therefore, the simple interest on an investment of $4,000 at 5% for 3 years is$ 600.

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Answer from HIX Tutor

When evaluating a one-sided limit, you need to be careful when a quantity is approaching zero since its sign is different depending on which way it is approaching zero from. Let us look at some examples.