What is 3:7 put in to lowest forms?
1 answer:
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Answer:
$86.8
Step-by-step explanation:
Given that,
Principal, P = $80
Rate of interest, R = 8.5%
We need to find the money he will have in 1 year. As the interest is not compounded, it must be simple interest. The simple interest can be calculated by the formula,
We know that,
Amount = Principal + interest
= $80 + $6.8
= $86.8
Hence, the amount will become $86.8.