rikamen187
Answered

Welcome to Westonci.ca, where you can find answers to all your questions from a community of experienced professionals. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform.

What sum of money, invested at 9%
interest per year, is needed to provide an
income of $45 per year?

Sagot :

Answer:

$500

Step-by-step explanation:

Intrest = P. A * Intrest Rate * Time

Time = 1 year, Intrest Rate = 9%, P. A. is what we need to find, Intrest is 45

45=x*9/100*1, x=500

wegnerkolmp2741o

Answer:

500

Step-by-step explanation:

I = PRT  where I is the interest, P is the amount invested, R is the rate and T is the time

We want 1 year at 9% to get 45 dollars in interest

45 = P ( .09) (1)

45 = .09P

Divide each side by .09

45/ .09 = P

500 =P

Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Westonci.ca is your go-to source for reliable answers. Return soon for more expert insights.