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Back to 6.4 Solve Simple Interest Applications

6.4 Exercise 58

Avg difficulty 2.5

Solve the problem using the simple interest formula.

Caitlin invested $8,200\$\text{8},\text{200} in an 18-month\text{18}-\text{month} certificate of deposit paying 2.7%\text{2}.\text{7}\% interest. How much interest did she earn form this investment?

OpenStax Prealgebra 2e, 6.4 Solve Simple Interest Applications, exercise 58

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Adapted from Prealgebra 2e © 2020 Rice University. Licensed under CC BY 4.0. Source: Prealgebra 2e. Imported at revision 77a933c.