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A 1,595 deposit for 10 years at a simple interest rate of 8%

Interest:

Total value:

User RicardoS
by
4.6k points

2 Answers

7 votes

Answer:1276

Step-by-step explanation:math

User JoshWillik
by
5.8k points
2 votes

Answer: interest =1276

Total value=2871

Explanation:

Interest= principal ×rate×time/100

Let interest be I

Principal be P

Rate be R

Time be T

I=p×r×t/100

P=1595

R=8

T=10

Substitute for the values

I=1595×8×10/100

I=1276

So Interest is 1276

Total value at the end of 10yrs will be

Principal +Interest

=1276+1595

=2871

Total value=2871

User ChrisD
by
5.0k points