zoestout247 zoestout247

14-09-2021
Mathematics

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3. How much simple interest is earned on $6,000 at an interest rate of 4.25% in 4.5 years?

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jacole16 jacole16

14-09-2021

Answer:

It is 6%, as 360 is earned each year.

Step-by-step explanation:

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masangosimphiwe71 masangosimphiwe71

14-09-2021

Answer:

6000×4.25/100

=255 (interest per annum)

255×4.5

= $1147.5 (interest earned in 4.5 years)

Answer Link

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