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zubka84 [21]
3 years ago
10

What sum would yield a simple interest of 70$ in 4 years if the rate interest is 3.5% p.a

Mathematics
1 answer:
Gwar [14]3 years ago
7 0

Answer:

$500

Step-by-step explanation:

First, converting R percent to r a decimal

r = R/100 = 3.5%/100 = 0.035 per year,

then, solving our equation

P = 70 / ( 0.035 × 4 ) = 500

P = $ 500.00

The principal required to

accumulate interest of $ 70.00

on a rate of 3.5% per year for 4 years is $ 500.00.

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