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3 years ago

12

Suppose you earn 3% on a $1200 deposit for 5 years. Explain how the simple interest is affected if the rate is increased by 1% W

hat happens if the time is increased by 1 year?

1 answer:

Soloha48 [4]3 years ago

6 0

So if 3% on 5year term and then it increased 1% it won't be 5 anymore it would go by 6 because it has increased by 1% and just add 1200 6 times.

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Step-by-step explanation:

Let the original speed be 'x'

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According to question, it becomes,

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