Received notice from the bank of a dishonored check from Jackson Group, $535.00, plus $25.00 fee;
1 answer:
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A) Ms.Wright receive $12 as interest at the end of 1/2 year.
B) Ms.Wright receive $24 as interest at the end of 1 year.
Step-by-step explanation:
The sum deposited in the bank = Principle = $800
The rate of simple interest = 3%
The time = 6 months = (6/12) years = 0.5 years
So, here simple interest = $12.
So Ms.Wright receive $12 as interest at the end of 1/2 year.
B) Now here Time = 1 year
so, Simple interest =
So Ms.Wright receive $24 as interest at the end of 1 year.