onwuzurumbajoan onwuzurumbajoan

15-05-2021
Mathematics

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What is the simple interest on 500 for 5 years at the rate of 5% per annum

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stellasim630 stellasim630

15-05-2021

Answer:

125

Step-by-step explanation:

Formula Simple interest:

P x r x t

Answer Link

15-05-2021

I = principal x rate x time
I = 500 x .05 x 5
I = 125

( time is always expressed in years and you convert rate to a decimal )

Answer Link

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