If the principle is $12,000 and the rate of interest is 6% (simple interest), what
1 answer:
9514 1404 393
Answer:
$12,720
Step-by-step explanation:
The amount is given by the formula ...
A = P(1 +rt)
where P is the principal, invested at rate r for t years.
A = $12,000(1 +0.06·1) = $12,720
The total amount after 1 year is $12,720.
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