Answered

Welcome to Westonci.ca, the place where your questions are answered by a community of knowledgeable contributors. Ask your questions and receive detailed answers from professionals with extensive experience in various fields. Discover detailed answers to your questions from a wide network of experts on our comprehensive Q&A platform.

What is the total amount of interest using simple interest given the following: Principal: $20,000 Interest rate: 12% Time: 10 Months

Sagot :

abidemiokin

Answer:

Amount = $22000

Step-by-step explanation:

Amount = Principal + Interest

Get the interest

Interest = PRT/100

Interest = 20,000*12*10/12*100

Interest = 200 * 10

Interest = $2000

Amount  = $20,000 + $2000

Amount = $22000

We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. We hope this was helpful. Please come back whenever you need more information or answers to your queries. Thank you for using Westonci.ca. Come back for more in-depth answers to all your queries.