Question

Thabo deposits R500in a bank account that pays 6,5%simple interest p. a. Thabo leaves the money in the bank for 4 years
How much money will he earn in one year?

Answer 1

Answer:

Step-by-step explanation:

given p=500

t=4

r=6.5

si=500*4*6.5/100=5*4*6.5=20*6.5=130

amount=si+p=500+130=630

for 4 years--->630

1 year--->630/4=157.5