A 1,595 deposit for 10 years at a simple interest rate of 8%
2 answers:
Answer:1276
Step-by-step explanation:math
Answer: interest =1276
Total value=2871
Step-by-step explanation:
Interest= principal ×rate×time/100
Let interest be I
Principal be P
Rate be R
Time be T
I=p×r×t/100
P=1595
R=8
T=10
Substitute for the values
I=1595×8×10/100
I=1276
So Interest is 1276
Total value at the end of 10yrs will be
Principal +Interest
=1276+1595
=2871
Total value=2871
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