Discover answers to your most pressing questions at Westonci.ca, the ultimate Q&A platform that connects you with expert solutions. Discover in-depth solutions to your questions from a wide range of experts on our user-friendly Q&A platform. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform.
Sagot :
The simple interest for R 7,500 is R 1, 800, and she will get it at 3 years with interest of 8%.
Simple interest:
Simple interest means the method of calculating the interest amount for a particular principal amount of money at some rate of interest.
The formula used to calculate the simple interest is
SI = P × R × T
P = The principal is the amount that initially borrowed from the bank or invested.
R = Rate is the rate of interest at which the principal amount is given to someone for a certain time.
T= Time is the duration for which the principal amount is given to someone.
Given,
Cynthia receives a gift of r 7, 500 she decides to invest it for 3 years, she is offered two saving at 8% interest.
Here we need to find the simple interest.
We know that,
P = 7, 500
R = 8/100 = 0.08
T = 3
So, the simple interest is,
SI = 7,500 x 0.08 x 3
SI = 1800
To know more about Simple Interest here
https://brainly.com/question/25845758
#SPJ4
Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. We hope this was helpful. Please come back whenever you need more information or answers to your queries. We're glad you visited Westonci.ca. Return anytime for updated answers from our knowledgeable team.
