Aphmau16
Aphmau16 Aphmau16
  • 08-12-2018
  • Mathematics
contestada

What is the interest on a $12000 at 2.5% for 3 years?

Respuesta :

OrethaWilkison OrethaWilkison
  • 18-12-2018

Answer:

Interest (I) = $ 900

Step-by-step explanation:

Formula for interest is given by:

Interest(I) = [tex]\frac{P \times R \times T}{100}[/tex]

where

P represents principal

R represents rate of interest

T represents the time in year.

Given : P = $ 12,000 , R =2.5% and  T = 3 years.

Interest(I) = [tex]\frac{12000 \times 2.5 \times 3}{100}[/tex]

On simplify:

[tex]I = \$ 900[/tex]

Therefore, the interest is , $ 900

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