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3 years ago

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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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Alona [7]

$\displaystyle \\ 
\text{We use the following equation:} \\ \\ 
 \frac{n}{2} = n - 38 \\ \\ 
We solve for n: \\ \\ 
 \frac{n}{2} = n - 38 ~~\Big| \times 2 \\ \\ 
n = 2 \times n - 2 \times 38 \\ \\ 
n = 2n - 76 \\ \\ 
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\boxed{n = 76} \\ \\ 
\text{Verification: } \\ \\ 
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2 years ago

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Step-by-step explanation:

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