SOLUTION: If you invest R6000 for 5months at 7%p.a. How much interest will you earn?

Question 1208638: If you invest R6000 for 5months at 7%p.a. How much interest will you earn?
Answer by ikleyn(52915) (Show Source): You can put this solution on YOUR website!
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If you invest R6000 for 5 months at 7%p.a. How much interest will you earn?
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From the context, the account is a simple interest.


Use the formula for the simple interest 

    I = A*r*t,


where A is the initial deposit; r is the annual rate as the decimal value; t is the time in years.

So,

    I =  =  =  = 5*7*5 = 175.


ANSWER.  The interest is R175.

Solved.

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To see many other similar (and different) solved problems on simple interest accounts, look into the lesson
- Simple interest percentage problems
in this site.

Learn the subject from there.

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