Ask Question
31 March, 17:59

Hannah earned $1536 in 8 years on an investment at a 4% annual simple interest rate. How much was Hannah's investment?

$3072

$491.52

$768

$4800

+5
Answers (1)
  1. 31 March, 18:22
    0
    Option B - $491.52

    Step-by-step explanation:

    Given: Hannah earned $1536 in 8 years on an investment at a 4% annual simple interest rate.

    To find : How much was Hannah's investment

    Solution : Investment = Principal * rate * time

    Principal = $1536

    Rate = 4% = 0.04

    Time = 8 years

    Investment = Principal * rate * time

    Investment = 1536 * 0.04 * 8

    Investment = 491.52

    Therefore, Option B is correct - $491.52
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Hannah earned $1536 in 8 years on an investment at a 4% annual simple interest rate. How much was Hannah's investment? $3072 $491.52 $768 ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers