3 years ago

Find the simple interest on £120,000.00 for 5 months at 12% per annum

Mathematics

1 answer:

Vinil7 [7]3 years ago

3 0

Answer:

£6,000

Step-by-step explanation:

Use the simple interest formula:

I = Prt

I = (Principal Value)*(Annual Interest Rate)*(Time in Years)

I = (120000)(0.12)(5/12)

I = 6000

Therefore, the simple interest is £6,000

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3 years ago

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Let's solve your equation step-by-step.
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Step 2: Add $\frac{1}{3}$ to both sides.
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