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Sophia.13

  • 3 years ago

Find the total amount if you deposit $500 at a rate of 5% for two years using simple interest.

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  1. nubeer
    • 3 years ago
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    Amount = Deposit *5%*years.

  2. ghazi
    • 3 years ago
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    \[SI =\frac{ P*R*T }{ 100 }\] where P--> principle amount =$500 R--> rate of interest =5% T=2 years now plug in the values and get your result

  3. youarestupid
    • 3 years ago
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    551.25

  4. youarestupid
    • 3 years ago
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    it is 551.25

  5. youarestupid
    • 3 years ago
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    $

  6. ghazi
    • 3 years ago
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    i thought it would be $550 i havent calculated yet but seems like that

  7. youarestupid
    • 3 years ago
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    thank you

  8. ghazi
    • 3 years ago
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    :D YW

  9. Sophia.13
    • 3 years ago
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    Thanks guys.

  10. youarestupid
    • 3 years ago
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    welcome

  11. ghazi
    • 3 years ago
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    NP :)

  12. TimSmit
    • 3 years ago
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    If it is calculated yearly then the first year gives 500*1.05 = 525$, the second year gives 525*1.05 = 551.25$

  13. ghazi
    • 3 years ago
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    cool :)

  14. TimSmit
    • 3 years ago
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    It might not be "simple interest", depends on what she means there :)

  15. ghazi
    • 3 years ago
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    she wrote simple interest so i am not sure :)

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