Question

Sara deposited $ 1435 for 3 years and 9 months at the rate of 5% per annum. Find the
amount at the end of the period.

Answer 1

Answer:

Find the answer using simple interest

Step-by-step explanation:

p = $1435, r=5%, t=3yrs and 9 months = 3 3/4 yrs = 15/4 yrs

interest = (prt)/100 = (1435 * 5 * 15)/(100*4) = $269.06

amount = interest + p = 1435 + 269.06 = $1704.06