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 measure of an angle formed by the intersection of two lines given the angle formulas, and Find the value of the angle using the appropriate formula.
+
What are the coordinates of the foci of the ellipse defined by the equation (x/3)^2 + (y/2)^2 = 1?
+
What is the limit as x approaches 2 of (3x^2 - 7x + 4)?
+
New questions in Mathematics