Question

$5,200 at 3% for 7 yearswhat is the simple interest?what is the total amount? hey mr or ms we need your help:)

Answer 1

simple interest = $1092

Total amount = $6292

Step-by-step explanation:

Principal = $5200

rate = 3% = 0.03

time = 7 years

Applying simple interest formula:

`\begin{gathered} I\text{ = PRT} \\ \text{where I = interest} \\ I\text{ = P}* R* T \end{gathered}`

I = 5200 × 0.03 ×7

I = $1092

simple interest = $1092

We are to find total amount after getting the interest:

Amount = principal + interest

Amount = $5200 + $1092

Amount = $6292