Divide the following quantities in the following ratios £100 1:3
1 answer:
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we know that
The simple interest formula is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest
t is Number of Time Periods
in this problem we have
substitute in the formula above
Round to the nearest dollar
therefore
<u>the answer is the option D</u>