komolaferotimi52
komolaferotimi52 komolaferotimi52
  • 25-02-2020
  • Mathematics
contestada

what is the interest if a sum of $5200 is invested for 36month at 15% per annum​

Respuesta :

albertaebisindou
albertaebisindou albertaebisindou
  • 25-02-2020

Answer:

I = 2,340

Step-by-step explanation:

The formula for interest is

I = P × R × T / 100

P = $5200

R = 15%

T= 36 months; T is meant to be in years so we will convert it from months to years

1 year = 12 months

So 36 months

= 36 /12 = 3 years

I = (5200 × 15 × 3)/100

I = 234,000 / 100

I = 2,340

Answer Link
amna04352
amna04352 amna04352
  • 25-02-2020

Answer:

$2,340

Step-by-step explanation:

36 months = 3 years

15/100 × 5200 = 780 per annum

3 years: 780×3 = $2,340

Answer Link

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