Question

If Valerie deposited 12,000 into an account threat earns 15% simple annual interest how much money will she have after 3 years

Answer 1

Answer:

The amount which she will have into account after 3 years is  17,400  unit

Step-by-step explanation:

Given as :

The principal which is deposited into an account = 12,000  unit

The rate of interest simple annual = 15%

The Time period = 3 years

Let The amount which she have after 3 years = A  unit

From simple Interest method

Simple Interest = $\frac{Principal\times Rate\times Time}{100}$

Or , Simple Interest = $\frac{12,000\times 15\times 3}{100}$

Or,  Simple Interest = $\frac{540,000}{100}$

∴    Simple Interest = 5,400  unit

Now,

Amount = Principal + Simple Interest

Or, A =  12,000  unit + 5,400  unit

∴   A =  17,400  unit

Hence The amount which she will have into account after 3 years is  17,400  unit . Answer