QuestionJune 5, 2025

GED QUESTIONS Eva invests 3000 for 9 months. She will be paid 8% simple interest on her investment. How much interest will she earn?

GED QUESTIONS Eva invests 3000 for 9 months. She will be paid 8% simple interest on her investment. How much interest will she earn?
GED QUESTIONS
Eva invests 3000 for 9 months. She will be paid 8%  simple interest on her
investment. How much interest will she earn?

Solution
4.7(271 votes)

Answer

180 Explanation 1. Identify the formula for simple interest Use the formula for simple interest: I = P \cdot r \cdot t, where I is the interest, P is the principal amount, r is the rate of interest per year, and t is the time in years. 2. Convert months to years Convert 9 months to years: t = \frac{9}{12} = 0.75 years. 3. Calculate the interest Substitute P = 3000, r = 0.08, and t = 0.75 into the formula: I = 3000 \cdot 0.08 \cdot 0.75. 4. Perform the calculation Calculate: I = 3000 \cdot 0.08 \cdot 0.75 = 180.

Explanation

1. Identify the formula for simple interest<br /> Use the formula for simple interest: $I = P \cdot r \cdot t$, where $I$ is the interest, $P$ is the principal amount, $r$ is the rate of interest per year, and $t$ is the time in years.<br /><br />2. Convert months to years<br /> Convert 9 months to years: $t = \frac{9}{12} = 0.75$ years.<br /><br />3. Calculate the interest<br /> Substitute $P = 3000$, $r = 0.08$, and $t = 0.75$ into the formula: $I = 3000 \cdot 0.08 \cdot 0.75$.<br /><br />4. Perform the calculation<br /> Calculate: $I = 3000 \cdot 0.08 \cdot 0.75 = 180$.
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