Jun 21, 2010 #1 G Googs New member Joined Jun 21, 2010 Messages 3 Reaction score 0 Points 1 ...needed to earn at least $1500? If you invest $5000 for 10 years, which inequality describes the interest rate needed to earn at least $1500 of interest?
...needed to earn at least $1500? If you invest $5000 for 10 years, which inequality describes the interest rate needed to earn at least $1500 of interest?
Jun 22, 2010 #2 M MoonRose New member Joined Jun 22, 2010 Messages 1 Reaction score 0 Points 1 Let r be the rate. Simple interest is I = Prt, where P is the principal amount, r is the annual interest rate, and t is the time in years. 5000(10)r >= 1500 50000r >= 1500 r >= 0.03
Let r be the rate. Simple interest is I = Prt, where P is the principal amount, r is the annual interest rate, and t is the time in years. 5000(10)r >= 1500 50000r >= 1500 r >= 0.03