The additional interest Benson pay each month is $750 if he invested at the rate of 2% for one year, option (b) is correct.
<h3>What is simple interest?</h3>
It is defined as the interest on the based on the principal amount, it does not include the compounded amount. The interest calculate on the initial amount or borrowed amount.
We know the formula for the simple interest is given by:
I = PRT
Where I is the simple interest.
P is the principal amount
R is the rate of interest
We have in the question:
I = $180
R = 2% = 0.02
T = 1 year
Put the above values in the formula, we get:
180 = P(0.02)(1)
P = $9000
The additional interest Benson pay each month is:
= 9000/12
= $750
Thus, the additional interest Benson pay each month is $750 if he invested at the rate of 2% for one year option (b) is correct.
Learn more about the simple interest here:
brainly.com/question/22621039
Answer:
Step-by-step explanation:
To find the amount deposited, we will simply use the formula for calculating simple interest.
Simple Interest = pxrxt/100 (fraction)
Where p = principal
R= Rate
T= Time
Principal is the initial amount deposited which we are ask to find.
R is given to be 6% and T is the time which is given in years
Simple interest is the interest earned over the year which is given to be $400
Lets substitute our variable into the equation
Simple Interest = pxrxt/100 (fraction)
$400 = P × 6 × 3 / 100
$400 = 18p/100 (fraction)
We will then cross multiply
$40 000 = 18 P
To get the value of P, we divide both-side of the equation by 18
4000/18 = 18p/18 (fractions)
$2222.22 = P
P = $2222.22
credits: ummuabdallah
Answer:
Step-by-step explanation: you brine is smart use it
A . 2/10 + 5/10= 7/10
B. 3/10 + 4/10= 7/10
C. 6/10 + 1/10 =7/10
Answer:
<h2>B. 243</h2><h2 />
Step-by-step explanation:
F(x) = 3^x
then
F(5) = 3^5 = 3×3×3×3×3 =243
