What is the value 10 years from now of $200 deposited in an account earning 12% interest?
2 answers:
Answer:240
Step-by-step explanation:
$200×12%=24
24×10=240
Answer:$440
Step-by-step explanation:
Principal(p)=$200
Rate(r)=12%
Time(t)=10years
Simple interest=(pxrxt) ➗ 100
Simple interest =(200x12x10) ➗ 100
Simple interest=24000 ➗ 100
Simple interest=240
Total amount=p + simple interest
Total amount =200+240
Total amount =440
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