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2 years ago

if mike invests 2000 in the bank at a simple interest rate of 5.3% for 10 years how much interest will he make?

Mathematics

1 answer:

Tems11 [23]2 years ago

6 0

Answer:

$1060

Step-by-step explanation:

First, converting R percent to r a decimal

r = R/100 = 5.3%/100 = 0.053 per year,

then, solving our equation

I = 2000 × 0.053 × 10 = 1060

I = $ 1,060.00

The simple interest accumulated

on a principal of $ 2,000.00

at a rate of 5.3% per year

for 10 years is $ 1,060.00.

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Answer:

$P(T\ n\ S) = \frac{1}{14}$

Step-by-step explanation:

*Missing Part of the Question*

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3 years ago

Ajay bought a fan and a heater for rs 4000. He sold the fan at a profit of a 25% and the heater at a loss of 5%. If he gained 7%

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Step-by-step explanation:

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