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Nonamiya [84]
3 years ago
7

David invested R1000, what would that money grow to in 18 months at 5.5% interest rate

Mathematics
1 answer:
maksim [4K]3 years ago
3 0
18 months = 1 and half year
                  = 1\frac{1}{2} year

I = PRT
P for Principle Amount
R for Rate
T for Time in years

I = 1000 × 0.055 × 1.5 (5.5% = \frac{5.5}{100} = 0.055)
  = R82.5

R1000 + R82.5 = R1082.5
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