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balandron [24]
3 years ago
5

The principle is 300 and the rate is 3%and 4 years is the time what is the interest earned and the new balance

Mathematics
1 answer:
Dimas [21]3 years ago
5 0
\bf ~~~~~~ \textit{Simple Interest Earned}\\\\
I = Prt\qquad 
\begin{cases}
I=\textit{interest earned}\\
P=\textit{original amount deposited}\to& \$300\\
r=rate\to 3\%\to \frac{3}{100}\to &0.03\\
t=years\to &4
\end{cases}
\\\\\\ I=300\cdot 0.03\cdot 4

the new balance is 300 + I.
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