Find the amount to be paid at the end of 3years in each case. a) principal =1,200 at12% p.a

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Alan Christensen asked Aug 9, 2022

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Find the amount to be paid at the end of 3years in each case. a) principal =1,200 at12% p.a

Mathematics
high-school

Alan Christensen asked Aug 9, 2022

by Alan Christensen

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1 Answer

14 votes

Answer:

$1632

Explanation:

Given data

Principal= $1200

Rate= 12%

Time= 3 years

The simple interest expression is given as

A= P(1+rt)

substitute

A=1200(1+0.12*3)

A=1200(1+0.36)

A=1200*1.36

A=$1632

Hence the amount is $1632

Sharetta answered Aug 15, 2022

by Sharetta

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