Question

Irene invested 25,000.00 at 16 simple interest for 6 years? How mush interest will be earned and how much is the future value of the investment at the end of 6 years?

Answer 1

Step-by-step explanation:

I=PRT

I=interest=?

P=principle=25000

R=rate=16%=16/100=0.16

T=time=6year

now

I=PRT

I=2500×0.16×6=2400