Question
(a) Calculate the interest earned on N$2 000 invested for 3 years at
a rate of 8% p.a. simple interest.
Answers
Answered by
GPT 3.5
Interest = Principal x Rate x Time
Interest = N$2 000 x 0.08 x 3
Interest = N$480
Therefore, the interest earned on N$2 000 invested for 3 years at a rate of 8% p.a. simple interest is N$480.
Interest = N$2 000 x 0.08 x 3
Interest = N$480
Therefore, the interest earned on N$2 000 invested for 3 years at a rate of 8% p.a. simple interest is N$480.
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