Sing scientific notation, what is the solution to (2.82 * 104) * (3.1 * 103)?
1 answer:
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Money with Nathan in his savings account = $40
Rate of interest per annum = 5%
We know that :
In this case :
Principal = $40
Rate = 5%
Time = 1 year
Simple interest he will earn in 1 year :
Amount = Principal + Interest
Amount Nathan has to pay at the end of one year :
Thus, at the end of 1 year Nathan has to pay $42.
Therefore, simple interest Nathan will earn in 1 year = $2
