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Virty [35]
2 years ago
10

How long will it take to sum of 6,000 naira to give an interest of 1500Naira at 5% rate

Mathematics
1 answer:
Sonja [21]2 years ago
8 0

Answer:

5years

Step-by-step explanation:

Interest=Principal*Rate*Time/100 which is

I=P*R*T/100

  • 1500=6000*5*T/100
  • 1500=30000/100*T
  • 1500=300T
  • 1500/300=T
  • 5=T

Therefore T which is Time=5 years.

HOPE THIS HELPS

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Answer:$6451.6 should be deposited.

Step-by-step explanation:

The principal was compounded monthly. This means that it was compounded 12 times in a year. So

n = 12

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r = 7.2/100 = 0.072

It was compounded for 3 years. So

t = 3

The formula for compound interest is

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A = total amount in the account at the end of t years. A is given as $8000 Therefore,

8000 = P (1+0.072/12)^12×3

8000 = P(1+0.006)^36

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You need to construct fence around an area of 3136 ft2. What are the dimensions of the rectangular pen that minimize the amount
borishaifa [10]

Answer:

Step-by-step explanation:

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L is the length

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Given

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Substitute into 2

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