Question
What is the amount of interest of 75,000 at 3.45% per year, at the end of 12 years and 6 months?
121
likes605 views
Answer to a math question What is the amount of interest of 75,000 at 3.45% per year, at the end of 12 years and 6 months?
Esmeralda
4.7102 Answers
The formula for simple interest is:
I=\frac{P\times t\times r}{100}
Given P = $75000, t = 12.5 years, and r = 3.45% or 0.0345:
I=\frac{75000\times12.5\times0.0345}{100}=323.4375
Frequently asked questions (FAQs)
What is the variance of a dataset {2, 5, 10, 7, 9}?
+
Math question: Find the extrema of the function f(x) = 2x^2 + 3x - 5 in the interval [0, 5].
+
Math question: In a triangle ABC, if angle A is 60 degrees, side BC is 8 units, and side AC is 10 units, what is the length of side AB using the Sine Law?
+
New questions in Mathematics