3
) Boris invests $550 at a rate of 2% per year simple interest.
Calculate the value of the investment at the end of 10 years.
Answers
Answered by
15
Explanation:
principal = 550$
rate = 2%
time = 1 year
in simple interest
interest = Principal × rate × time ÷ 100
550×2× 1 ÷100
1100÷100
interest is 11 $
after 10 years in simple interest
we multiply 11 × 10 year = 110$
amount after 10 years = 1100+110
1210 $
Answered by
3
Answer:
660
Explanation:
550 multiplied by 2 multiplied by 10 divided by 100 plus 550
=660
Similar questions