So in order to figure this out we need to know the formula for simple interest In this case it is. I = p r t (they are all multiplied by each other)
p = "principle" or the starting amount of money r = the rate or percentage t = time (in years) So lets figure it out in the order they give it to us. Then Put them least to greatest.
So the first one is Investment at $3,000 at 16% simple interest for 2 years. We multiply them all together to get our interest. lets do the math:) 16% = 0.16 $3,000 x 0.16 x 2 = $960
Now lets do the second one. Investment of $3,000 at 5% simple interest for 20 years. Lets multiply them all together. 5% = 0.05 $3,000 x 0.05 x 20 = $3,000
Now for our third one. Investment of $1,000 at 16% simple interest for 20 years Lets multiply them together. 16% = 0.16 $1,000 x 0.16 x 20 = $3,200
Now here is our answer ↓↓↓
Now to put these in order from least to greatest. 1st.) Investment at $3,000 at 16% simple interest for 2 years. = $960 2nd.) Investment of $3,000 at 5% simple interest for 20 years.= $3,000 3rd.)Investment of $1,000 at 16% simple interest for 20 years.= $3,200
