3) Jael invests $12 000 at a bank which pays 3% simple interest. After a certain
1 answer:
Answer:
a) $3,240
b) 9 years
Step-by-step explanation:
a) if principal was 12,000 and total amount after interest is 15,240 then interest earned is the difference, which is 3240
b) Interest = Principal x rate x time
let 't' = time, in years
3240 = 12000 x .03 x t
3240 = 360t
3240/360 = t
9 = t
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