Question

3-) Mr. Brown deposited $ 300,000 in RBC bank. The annual simple interest rate is
1.1%.
a-) Calculate the simple interests of Mr. Brown after 33 months
SHOW HOW YOU FOUND IT!

Answer 1

Answer:

Hey Friend!

Here is your answer;

Given,

Principle = $ 300000

Rate of simple interest = 1.1 % p. a.

Time given = 333 months

Step-by-step explanation:

At first, we need to convert the given time in months to years

⇒ time = $\frac{33}{12}$ yrs = 2.75 yrs

Now. we know,

Simple interest = $\frac{Principle * rate * time period }{100}$

                       = $\frac{300000 * 1.1 * 2.75}{100}$

                       = $ 9075

Answer ; $ 9075

I hope it helps you! Please respond with a thanks!