Question

$450 at 7% for 2 years. =$_____

Answer 1

Answer:

the simple interest is 63 , and total amount after 2 years is 513.

Answer 2

$450 at 7% for 2 years. = $ 513.

Given:

$450 at 7% for 2 years  

To find:

The total amount at end of the 2 years

Solution:

Formula used:

Simple interest, I = PTR/100

Amount, A = P + Interest

Where,

P = Principal amount

T = Time period

R = Rate of interest

From the given data,

Principal amount, P =  $ 450

Time period, T = 2 year  

Rate of interest, R = 7%

By the given formula,

Simple interest, I = (450)(2)(7)/100 = 63

Total amount, A = $ 450 + $ 63 = $ 513

Therefore,

$450 at 7% for 2 years. = $ 513.

   

Learn more about Simple interest at

https://brainly.in/question/16493713

#SPJ3