taraww36
taraww36 taraww36
  • 20-03-2018
  • Mathematics
contestada

what is the balance for £5000 invested for 5 years at 7% per annum?

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jdoe0001 jdoe0001
  • 20-03-2018
asumming simple interest rate.

[tex]\bf ~~~~~~ \textit{Simple Interest Earned Amount}\\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\to& 5000\\ r=rate\to 7\%\to \frac{7}{100}\to &0.07\\ t=years\to &5 \end{cases} \\\\\\ A=5000[1+(0.07)(5)]\implies A=5000(1.35)[/tex]
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