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1 year ago

R560 invested at 8% p.a. simple interest for 3 years

Mathematics

2 answers:

alexdok [17]1 year ago

4 0

Answer:

R 694.4

Explanation:

simple interest = $\sf{\dfrac{PRT}{100}$ → $\sf \dfrac{560*8*3}{100}$ → R 134.4

where p refers to principal, r refers to rate, t refers to time.

total money:

invested money + simple interest

R 134.4 + R 560 → R 694.4

Otrada [13]1 year ago

3 0

Answer:

R 694.40

Step-by-step explanation:

Simple interest formula:

A = P(1 + rt)

where A is the final amount, P is the initial principal balance, r is the annual interest rate (in decimal format), and t is time (in years)

Given:

P = 560
r = 8% = 0.08
t = 3

⇒ A = 560(1 + 0.08 · 3)

⇒ A = 560(1.24)

⇒ A = 694.40

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R560 invested at 8% p.a. simple interest for 3 years​

R560 invested at 8% p.a. simple interest for 3 years