2 years ago

Calculate the simple interest on $4,000,000 at 5% per annum for 2 years.

Mathematics

1 answer:

Dmitry_Shevchenko [17]2 years ago

3 0

Answer:

400,000

Step-by-step explanation:

In total, you would be paying 400,000 for 2 years for the interest.

So, for one year, the interest would be 200,000. The monthly rate would be 16,666.6667.

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