Question

Nora invested $1,500 in a bond at a simple interest rate of 3%. How much will the bond be worth in total after 10 years?

Answer 1

The bond will be worth in total after 10 years is =$1,950

Step-by-step explanation:

Given,

Nora invested $1,500 in at a bond simple interest rate of 3%

here P= $1500 R= 3% and t = 10year

Simple interest(I) = $\frac{P\times R \times t }{100}$

                           =$ $\frac{1500\times 3 \times 10}{100}$

                           =$ 450

The bond will be worth in total after 10 years is = $1,500+ $450

                                                                                     =$1,950