Question

Jordan invests £12500 into his bank account. He receives 8.5% per year simple interest. How much will Jordan have after 3 years? Give your answer to the nearest penny where appropriate.

Answer 1

Step-by-step explanation:

Principal(P)= 12500

Rate(R)=8.5%

Time=3 years

Amount = Principal + Simple Intrest (S.I.)=?

$s.i = \frac{p \times r \times t}{100} \\ \: \: \: = \frac{12500 \times 8.5 \times 3}{100} \\ \: \: \: = 3187.5$

Amount = P+S.I.

= 12500+3187.5

=15687.5

So, after 3 years he will receive 15687.5.

I hope it will help you .

Answer 2

Answer:

Principal(P)= 12500

Rate(R)=8.5%

Time=3 years

Amount = Principal + Simple Intrest (S.I.)=?

Amount = P+S.I.

= 12500+3187.5

=15687.5

So, after 3 years he will receive 15687.5.

If this helps you please mark me brainelist

Step-by-step explanation: