Question

Find the simple interest on a $400 investment made for 5 years at an interest rate of 7%/year. what is the accumulated amount?

Answer 1

$p = dollar400 \\ t \: = 5 yrs\\ r = 7\% \\ si = prt \div 100 \\ = (400 \times 5 \times 7) \div 100 \\ = 140dollars \\ amount = p + si \\ amount = 400 + 140 \\ = 540 \: dollars$

Answer 2

Interest =  (PTR)/100 = ($400 × 5 yrs × 7) / 100 = $ 140 Accumulated Amount = Principal Amount + Simple Interest  = $400 + $ 140 = $540 (Subject to foreign currency fluctuations)