Sarah took the advertising department from her company on a road trip to meet with a potential client including Sarah a total of
1 answer:
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Given:
Principal = $50
Rate of simple interest = 6%
Time = 3 years
To find:
The amount after 3 years.
Solution:
Formula for simple interest:
Where, P is principal, r is the rate of interest in percentage and t is the number of years.
Putting in the above formula, we get
Formula for amount is:
Where, P is principal and I is the simple interest.
Putting , we get
Therefore, the correct option is B.