Problema Solution
Bill invested $5000, at a simple interest of 4.3%. What will be the total value of his investment after 3 years?
Answer provided by our tutors
Simple Interest = P*N*R/100
where P = Principal amount = 5000 , N = 3 years , R = 4.3%
Simple interest = 5000*3*4.3/100
= 64500/100
= 645 $
Hence total value of his investment is 5000 + 645 = 5645 $