Respuesta :

altavistard
"an interview has earned $1200 in interest?"  Perhaps you meant, "A certain individual..."

i = p* r* t
                                               $1200
$1200 = p*(0.04)(5)  =>  p = ----------- = $6000 (answer)    
                                                0.20
Is it simple or compound interest? With simple interest, the person above would be correct. However, if it were compound interest, things get more complex.
[tex] 1.04^{5} [/tex]*n=1200+n
[tex] 1.04^{5} [/tex]n - n =1200
1200/[tex] 1.04^{5} [/tex]n - n = 5538.81 to the nearest decimal place
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