The formula A = p(1+rt/100) gives the total money , A, that a principal, p, amount to in T years at R% simple interest per annum. find the amount that a principal of 75000 becomes if invested for 5 years at 6½% simple interest per annum
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Answer:
Total Amount = 99375
Step-by-step explanation:
P = 75000
R = 6.5
T = 5
SI = PRT /100
= 75000 × 6.5 × 5/100
= 750 × 65/10 × 5
= 75 × 65 × 5
= 24375
A = P+SI = 75000 + 24375 =99375
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