Find the Simple Interest and amount, using the information given in the following picture. (Hint: convert time given in months to years)
PLEASE IT'S URGENT
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Answer:
Amount= $15,240
Interest = $3240
Step-by-step explanation:
Principal = $12000
rate per annum= 9%
Time = 36 months. (36/12 = 3 years)
SI = Principal × Rate × Time / 100
therfore,
SI = 12000 × 9 × 3/ 100
SI = $3240
TOTAL AMOUNT = SI + Principal
=> 3240 + 12000
=> $15,240
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