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 slope-intercept form equation of a line passing through points (3, 5) and (7, 11)?
+
What is the median of the following data set: 2, 5, 7, 9, 12, 13, 15, 18, 20?
+
Math question: Find the square root of 85,456.
+
New questions in Mathematics