Answer:
The investment is $720.
Step-by-step explanation:
Given : $12,000 is invested for 4 years at a simple interest rate of 1.5%.
To find : How much does the investment earn?
Solution :
Applying simple interest formula,
[tex]SI=P\times R\times T[/tex]
Where, P is the principal P=$12000
R is the interest rate R=1.5%=0.015
T is the time T=4 years
Substitute the value in the formula,
[tex]SI=12000\times 0.015\times 4[/tex]
[tex]SI=720[/tex]
The investment is $720.
