Question

If R900 is invested at 14%per year simple interest calculator the value of the investment after 9 years and 3 months

Answer 1

The simple interest formula is given to be:

`I=(PRT)/(100)`

where P is the principal, R is the interest rate, and T is the time in years.

From the given question, the following parameters are provided:

`\begin{gathered} P=900 \\ R=14 \\ T=9\text{ years and }3\text{ months}=9.25\text{ years} \end{gathered}`

Therefore, the interest after 9 years and 3 months ​will be:

`\begin{gathered} I=(900*14*9.25)/(100) \\ I=1165.50 \end{gathered}`

Hence, the value of the investment will be:

`\Rightarrow P+I=900+1165.50=2065.50`

The value of the investment will be R2065.50.