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almond37 [142]
3 years ago
7

Find the interest on $4,000 at 3% for 4 months

Mathematics
1 answer:
Sladkaya [172]3 years ago
6 0

Step-by-step explanation:

✧ \underline{ \underline{ \large{ \tt{G \: I \: V \: E \: N}}}} :

  • Principal ( P ) = $ 4000
  • Rate ( R ) = 3 %
  • Time ( T ) = 4 months = \ \frac{4}{12}

✧ \underline{ \underline{ \large{ \tt{ T \: O \:  \: F\: I\: N \: D}}}} :

  • Interest ( I )

✧ \underline{ \underline{ \large{ \tt{S \: O \: L \: U \: T \: I \:O\: N}}}} :

☂ \boxed{ \large{ \sf{Interest \: ( \: I \: ) =  \frac{PTR}{100}}}}

~Plug the known values and then simplify !

➝ \large{ \bf{ \frac{4000 \times  \frac{4}{12}  \times 3}{100} }}

➝ \large{ \bf{ \frac{4000}{100}}}

➝ \large{ \bf{ \frac{4 \: 0  \: \cancel{0 \: 0}}{1  \: \cancel{ 0 \: 0}}}}

➝ \boxed{ \large{ \bf{ \$ \: 40}}}

⟿ \boxed{ \boxed{ \underline{ \large{ \text{OUR \: FINAL \: ANSWER  }:  \boxed{ \underline{ \tt{ \$ \: 40}} }}}}}

----------------------------------------------

☃ \underline{ \text{Additional \: Info : }}

  • Principal ( P ) : The money which is borrowed or deposited is called principal.
  • Interest ( I ) : The additional amount of money which is paid by borrower to the lender is called interest.
  • Time ( T ) : The duration of time for which principal is deposited or borrowed is termed as time period.
  • Rate ( R ) : The condition under which the interest is charged is called rate.
  • Amount ( A ) : The sum of principal and interest is called an amount.

Hope I helped ! ♡

Have a wonderful day / night ! ♕

Let me know if you have any questions regarding my answer ! ☄

☞ \underline{ \underline{ \mathfrak{Carry \: On \: Learning}}} !! ✎

▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁

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