Question

Celine invests $800 for 5 month at 3% simple interest per year.
Calculate the interest she receives.

Answer 1

Answer:

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Answer 2

Answer:

10%

Step-by-step explanation:

• The formula for simple interest is I = PRT
• P= Principle (amount of money invested), R= rate%, T= time in years

• I=PRT/100
• So I = 800 * 3% * (5/12)   (convert 5 months to years)

• I = 10%

Hope this helps!