aziag9898 aziag9898
  • 01-03-2018
  • Mathematics
contestada

How much interest is earned on $269 at 10% for five years?

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Nyny1899
Nyny1899 Nyny1899
  • 01-03-2018
The interest would be $134.50
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Kristiania Kristiania
  • 20-08-2018

The simple interest can be calculated using the formula:

[tex] I = \frac{PRT}{100} [/tex]

We are given :

Principal = $269

Rate of interest = 10%

Time = 5 years

Plugging the values in the formula:

[tex] I = \frac{269*10*5}{100} [/tex]

Interest = $134.5


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