To find the interest paid on the money, we need to use the formula:
Interest = Principal x Rate x Time
Where:
Principal = $600,000
Rate = 21% or 0.21
Time = 1 year
Plugging in the values into the formula, we get:
Interest = 600,000 x 0.21 x 1
Interest = 126,000
The interest paid on the money is $126,000.
Sunday deposited #600000 in a savings account at spring bank at an interest rate of 21 par annum for years.find the paid on the money
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