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3 years ago

sarah invests £9600 at a simple interest rate of 8% per year. Work out the value of the investment after 3 years

Mathematics

2 answers:

Natali5045456 [20]3 years ago

7 0

Answer:

Step-by-step explanation

Simple interest = PRT/100

interest on £9600 = 9600*8*3/ 100

= £2304

So the value after 3 years = 9600 + 2304

= £11,904

Bess [88]3 years ago

3 0

Answer:

£11,904

Step-by-step explanation:

Simple interest = PRT/100 where P = initial investment, R = rate and T = time.

So interest on £9600 = 9600*8*3/ 100

= £2304

So the value after 3 years = 9600 + 2304

= £11,904 (answer)

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