Question

someone deposits $567 dollars. The interest rate was 23%. How much money would someone get in 2 years?

Answer 1

totel amount=$827.82

Explanation:

given p=principle=$567

rate of interest=R=23%

time=T=2years

simple interest=
`(P* R* T)/(100)`

simple interest=
`(567* 23* 2)/(100)`

simple interest=$260.82

hence, totel amount=principle+simple interest

totel amount=$567+$260.82=$827.82

totel amount=$827.82 answer