Register

Ali invests £400 for 5 five years in a savings account. The account pays simple interest at a rate of 3.5% per year. Work out the total amount of interest Ali gets.

Ali invests £400 for 5 five years in a savings account. The account pays simple interest at a rate of 3.5% per year. Work out the total amount of interest Ali gets.
asked 50.8k views
2 votes
Ali invests £400 for 5 five years in a savings account. The account pays simple interest at a rate of 3.5% per year. Work out the total amount of interest Ali gets.

asked
User Punkouter
by
7.1k points

2 Answers

3 votes

Answer:

Interest=P×T×R/100

400×1×3.5/100

=$14

5 years interest=14×5

=$70

Explanation:

answered
User Nery Jr
by
7.8k points
5 votes
400 x (1 + 3.5%)^5 = £475.07

She makes £75.07 in interest
answered
User Gans
by
8.1k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
Link Copied!