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Calculate the amount earned if simple interest is paid on R2500 at 8.5% per annum for 4 years

Calculate the amount earned if simple interest is paid on R2500 at 8.5% per annum for 4 years
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2 votes
Calculate the amount earned if simple interest is paid on R2500 at 8.5% per annum for 4 years

User Remo Gloor
by
8.5k points

1 Answer

2 votes
The formula is
I=prt
I amount earned?
P 2500
R interest rate 0.085
T time 4years
I=2,500×0.085×4
I=850
User Peter Horne
by
8.2k points
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