HOW DO YOU GET ANY THING YOU WANT PLS
2 answers:
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Answer: He will earn $75 after 3 years.
Explanation: To calculate Simple Interest, we use the formula:
.....(1)
where, i = Simple Interest
P = Principle amount
R = Rate of interest
t = Time period
Given:
P = $500
R = 5%
t = semiannually which means years
As we are asked the total amount earned after 3 years which means 6 half years, so we multiply the interest calculated semiannually by 6 to get the total interest after 3 years.
Putting all the values in equation 1, we get
i = $75
Total amount earned after 3 years = i = $75
= $75