find the amount on $500 for 6 year at rate of 3% p.a
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P.A is not available I'm not sure of what that can be
Answered by
0
Step-by-step explanation:
If an amount of money,
P
, the principal, is invested for a period of
t
years at an annual interest rate
r
, the amount of interest,
I
, earned is
I
=
P
r
t
where
I
=
interest
P
=
principal
r
=
rate
t
=
time
Interest earned according to this formula is called simple interest.
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