mesiallen28 mesiallen28
  • 26-05-2020
  • Mathematics
contestada

If I earn 3% simple interest for 10 years on $500, I will earn:
$150
They
$300
$15
$3
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Respuesta :

MollieToliver MollieToliver
  • 31-05-2020

Answer:

$150

Step-by-step explanation:

Simple interest for any principal amount p , rate of interest r and time t is given by

Simple interest = (p*r*t)/100

_________________________________

Given

p =$500

r = 3%

t = 10 years

Therefore SI = $500*3*10/100 = $150.

$150 is earned in 10 years at 3% simple interest on $500.

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