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Vinvika [58]
3 years ago
11

1.) A man invested $600 at 8% per annum for 5 years. Calculate: a.) The simple interest payable b.) The total amount of money th

e man collected at the end of the 5-year period. 2.) Mr. Ford invested $12 450 in a bank at 7.25% per annum simple interest for 6 years. Calculate: a.) The interest he was paid b.) The total of amount of money he would have received at the end of the period of investment. 3.) The simple on $15 000 for 9 years is interest is paid when $800 is invested for 5 years.
Mathematics
1 answer:
Bezzdna [24]3 years ago
7 0

Answer:

Following are the solution to this question:

Step-by-step explanation:

Using formula:

\text{Simple Interest} = \frac{P \times R \times T}{100} \\\\\text{ Total amount} = \text{principle}+  \text{Simple Interest}

In question (1):

Principle= \$ 600\\Rate = \ 8 \%\\Time= \ 5

In point a:

\to \frac{P \times R \times T}{100} \\\\\to \frac{(600 \times  8 \times 5)}{100}\\\\ \to  240

In point b:

\to amount = principle \ +\ simple \ interest

                 = 600 + 240 \\\\= 840

In question (2):

Principle= \$ 12,450\\Rate = \ 7.25 \%\\Time= \ 6

In point a:

\to \frac{P \times R \times T}{100} \\\\\to \frac{(12,450 \times  7.25 \times 6)}{100}\\\\ \to  5,415.75

In point b:

\to amount = principle \ +\ simple \ interest

                 = 12,450 + 5,415.75 \\\\= 17,865.75

The 3 question is incomplete, that's why it can't be solved.

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