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Sagot :
We are given the following information;
An investment of $3300 at the rate of 3.75% per annum simple interest for 4 months.
The formula for simple interest is;
[tex]I=P\times R\times T[/tex]Where the variables are;
[tex]\begin{gathered} I=\text{interest} \\ \text{ P=Principal (3300)} \\ R=\text{Rate (3.75\%, OR }0.0375) \\ T=\text{Time in years (OR }\frac{4}{12}yrs) \end{gathered}[/tex]We substitute the given values and we have;
[tex]\begin{gathered} I=3300\times0.0375\times\frac{4}{12} \\ I=\frac{3300\times0.0375\times4}{12} \end{gathered}[/tex]We now simplify and the answer becomes;
[tex]I=41.25[/tex]The amount of interest earned on this loan is $41.25.
The future value would be the total amount after 4 months and that would be;
[tex]\begin{gathered} FV=\text{ Principal}+Interest \\ FV=3300+41.25 \\ FV=3,341.25 \end{gathered}[/tex]ANSWER:
Interest = $41.25
Future Valu = $3,341.25
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