AU$1500 is invested for six years at 3.5% per year. What is the interest
earned?
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Principal (P) = $1500
Time(T) = 6 years
Rate of interest (R) = 3.5 %
Simple interest = PTR/100
= 1500 * 6 * 3.5/100
= 15 * 6 * 3.5
=$ 315
INTEREST EARNED = $315
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