Question

If $860 is invested for one year at 13% simple interest, how much interest is earned?

Answer 1

Simple interest = (principal × rate × year) / 100

Principal is $860

Rate is 13%

Year is 1years

Therefore,

S.I = PRT/100

S.I = 860 × 13 ×1 / 100

S.I = $111.8 QED

Explanation:

Answer 2

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