Compute the amount of interest earned in the following simple interest problem. A deposit of $800 at 3.5% for 7 years = _____.
2 answers:
<h2>Answer:</h2>
Option: b is the correct answer.
b. $ 196.00
<h2>Step-by-step explanation:</h2>The principal amount is given by: P=$ 800
The rate of interest is given by: R=3.5%
The time period is given by: T=7 years.
We know that the simple interest(S.I.) on a principal amount P at some rate of interest R and for a time period T is calculated by the formula:
Hence, we get:
The amount of interest earned in the following simple interest problem is:
b. $ 196.00
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Answer:
Step-by-step explanation:
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Since he spend a maximum of 20 hours, hence:
x + y ≤ 20 (1)
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Find out more at: brainly.com/question/17178834
