Question

Nora invests $800 that pays simple interest at a rate of 6% per annum and $1200 that pays simple interest at a rate of 7% per annum. What is her total annual interest on these two investment ?

Answer 1

Step-by-step explanation:

so the answer is 132 dollars

Answer 2

Answer:

1st investment:

[Principal (P)]: $800

Interest Rate (R%)= 6%

Time (T)= 1 year (per annum means 1 whole year)

2nd investment:

Principal= $1200

Interest rate= 7%

Time= 1 year

Step-by-step explanation:

1st:

formula:

I(interest)=PRT/100

I=800x6x1/100

I=$48

2nd:

I=PRT/100

I= 1200x7x1/100

I= $84

Total interest: 48+84

=$132