Asked by Sizalobuhle
A sum of $3500 is invested at simple interest and amounts to $6020 after 3 years.calculate the total interest
Answers
Answered by
Steve
The interest earned each year is r/100 * 3500. So, after 3 years, the interest amounts to the amount of increase:
3500*3r/100 = 6020-3500
3500*3r/100 = 6020-3500
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