The interest in investing $6000 in a stock fund that is offering a constant annual interest of 5% is $300
What is interest?
Interest is the amount of money made from investing a particular amount of money over a period of time. It is given by:
I = PRT
I is interest, P is principal, R is rate and T is period
Donetta is investing $6000 in a stock fund that is offering a constant annual interest of 5%. Hence in one year:
I = 6000 * 5% * 1 year = 6000 * 0.05 * 1 = $300
The interest in investing $6000 in a stock fund that is offering a constant annual interest of 5% is $300
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