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Olin [163]
3 years ago
15

What is The simple interest earned on a deposit of $3000 at 6% for five years

Mathematics
1 answer:
Norma-Jean [14]3 years ago
4 0

Answer: $900

Step-by-step explanation:

The simple interest is calculated using the formula:

(P × R × T)/100

where,

P = Principal = $3000

R = Rate = 6%

T = Time = 5 years

Simple Interest = (P × R × T)/100

= ($3000 × 6 × 5)/100

= 90000/100

= $900

Therefore, the simple interest is $900

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Answer:

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General Formulas and Concepts:

<u>Pre-Algebra</u>

Order of Operations: BPEMDAS

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Equality Properties

Step-by-step explanation:

<u>Step 1: Define Equation</u>

6n + 7 = 55

<u>Step 2: Solve for </u><em><u>n</u></em>

  1. Subtract 7 on both sides:                    6n = 48
  2. Divide 6 on both sides:                       n = 8

<u>Step 3: Check</u>

<em>Plug in n into the original equation to verify it's a solution.</em>

  1. Substitute in <em>n</em>:                    6(8) + 7 = 55
  2. Multiply:                               48 + 7 = 55
  3. Add:                                     55 = 55

Here we see that 55 does indeed equal 55.

∴ n = 8 is a solution of the equation.

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