Answer:
p=11
Step-by-step explanation:
2(p + 1) = 24
Divide each side by 2
2/2(p + 1) = 24/2
p+1 = 12
Subtract 1 from each side
p+1-1 = 12-1
p =11
Given:
Principal : 5,000
Interest rate : 7% per annum
Term : 5 years
Simple interest is computed by multiplying the principal, the interest rate, and the term.
Simple Interest = Principal * interest rate * term
S.I. = 5,000 * 7% * 5years
S.I. = 350 * 5 years
S.I. = 1,750
An investment of 5,000 will earn a total of 1,750 within 5 years at 7% per annum.
