As an estimation we are told £3 is €4.
1 answer:
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Answer:
The amount after 1 year is $ 1060 .
Step-by-step explanation:
The amount after 1 year on $1,000 invested at 6% per year on simple interest
is given by,
$
= $ (1000 + 60)
= $ 1060
We know that, if,
Principal = P unit
Rate of annual simple interest = R%
Time = T year
then, amount, A = unit