Question

In interest rate 6% in 2500$ in year when go to investment at the end how many amount of 3 yrs and 5 months in simple interest ?

Answer 1

Answer: So, after 3 years and 5 months, the total amount of simple interest earned on an investment of $2500 at a 6% interest rate would be $525.

Explanation:

To calculate the simple interest on an investment of $2500 at a 6% interest rate for 3 years and 5 months, you would use the formula:

Simple Interest = (Principal x Interest Rate x Time in Years)

In this case, the time in years would be 3.5 (3 years and 5 months)

Simple Interest = (2500 x 0.06 x 3.5) = $525

So, after 3 years and 5 months, the total amount of simple interest earned on an investment of $2500 at a 6% interest rate would be $525.