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 resultant displacement if vectors A and B, with magnitudes 8 and 12 respectively, are added together at a right angle?
+
What is the equation of a circle with center (-3, 2) and radius 5?
+
Find the period of the function y = 2cos(3x + π/4) - tan(2x), where x is measured in radians.
+
New questions in Mathematics