Use the simple interest formula to calculate the principal amount invested at the rate of 4.5% p.a for 2 years earning K1000
Question
Solution 1
The simple interest formula is I = PRT, where:
I = Interest earned P = Principal amount (the initial amount of money) R = Rate of interest per year T = Time the money is invested for in years
In this case, we know:
I = K1000 R = 4.5% = 0.045 (as a decimal) T = 2 years
We want to find P. So, we r Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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