Question

Shania invests $750 at a rate of 2% per year simple interest.
Calculate the total amount Shania has after 5 years.

Answer 1

Answer:

Given

P=$750

Rate =2. 5 % (2 1/2%)

Time=5 yr

Simple interest = pxrxt /100

=750x2.5x5/100

=$93.75

Amout =p+i

=750+93.75

=$843. 75