Answered

At Westonci.ca, we connect you with experts who provide detailed answers to your most pressing questions. Start exploring now! Discover comprehensive answers to your questions from knowledgeable professionals on our user-friendly platform. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.

How much money would produce $70 as simple interest at 3.5% per
annum?

Sagot :

franyaw31

Answer:

$2000

Step-by-step explanation:

Simple Interest = $70

Rate = 3.5%

Time = 1

Principal = ?

Simple Interest = (Principal × Rate × Time)/100

Principal = (Simple Interest × 100)/(Rate × Time)

Principal = (70 × 100)/(3.5 × 1)

Principal = 7000/3.5

Principal = 14000/7

Principal = 2000

Thank you for trusting us with your questions. We're here to help you find accurate answers quickly and efficiently. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.