Find the total amount due on a simple-interest loan if the principal is $3000 with a rate of 5% for 10 years.

1 answer:

3 0

$\bf \qquad \textit{Simple Interest Earned Amount}\\\\
A=P(1+rt)\qquad 
\begin{cases}
A=\textit{accumulated amount}\\
P=\textit{original amount deposited}\to& \$3000\\
r=rate\to 5\%\to \frac{5}{100}\to &0.05\\
t=years\to &10
\end{cases}
\\\\\\
A=3000(1+0.05\cdot 10)\implies A=3000(1.5)$

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Step-by-step explanation:

In this question, we are asked to calculate the number of monkeys in a Zoo given some information to use.

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