Drag the descriptions of each investment into order, from which will earn the least simple interest to which will earn the most simple interest.

1. Investment of $3,000 at 16% simple interest for 2 years

2. Investment of $1,000 at 16% simple interest for 20 years

3. Investment of $3,000 at 5% simple interest for 20 years

Question

Josephine Dalton

Mathematics

18 July, 17:20

Drag the descriptions of each investment into order, from which will earn the least simple interest to which will earn the most simple interest.

1. Investment of $3,000 at 16% simple interest for 2 years

2. Investment of $1,000 at 16% simple interest for 20 years

3. Investment of $3,000 at 5% simple interest for 20 years

+3

Answers (1)

Know the Answer?

Belen · Answer 1

The equation to find simple interest is

principal * %/100 * years. (P * I * A)

so

1. 960

2. 3200

3. 3000

The order is

2, 3, 1.

(make sure to learn the simple equation)