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14 May, 08:00

12.

A $20,000 investment earned a simple interest rate of 5.4%. How much interest was earned in one year?

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Answers (2)
  1. 14 May, 08:16
    0
    Answer:1,080

    Step-by-step explanation:

    20,000 x. 54 equals $1,080
  2. 14 May, 08:16
    0
    18,920.00

    Step-by-step explanation:

    discount = x

    original price = $20,000

    discount% = 5.4%

    x/20,000 = 5.4/100

    x · 100 = 5.4 · 20,000

    100x = 108,000

    100x/100 = 108,000/100

    x = $ 1,080.00

    Sale price = original $ - discount $ = final answer

    $20,000 - $1,080 = $18,920.00
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