Question

How do you use the formula to solve these problems: initial deposit of $500, at 8% for 3 years?

Answer 1

Suppose that,

S.I.=(P×R×T)/100

S.I.=($500×8×3)/100

S.I.=$12000/100

S.I.=$120.

Amount=P+S.I.

Amount=$500+$120

Amount=$620

I hope this answer will help you...

Answer 2

Here is your answer mate...

Here,

Principal (P) = 500

Rate (R) = 8%

Time (T) = 3 years

Simple intrest = P ×R×T / 100

》 500 × 8 × 3 / 100

》 120

NOW ,

》 S.I + Principal

》 500 + 120

》 620

Hope you get it ✔✅✔✅✔..

If you find it appropriate then mark it as brainliest..☆