Ask Question
24 January, 05:53

A bank pays 5.5% simple interest per year. Find the total amount at the end of one year on a principal of $3,000.

+2
Answers (1)
  1. 24 January, 05:55
    0
    Since simple interest is equals to = principal*rate*time

    time = 1 year

    rate=5.5%

    principal=3000

    so SI=3000*1*5.5=16500
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A bank pays 5.5% simple interest per year. Find the total amount at the end of one year on a principal of $3,000. ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers