An amount of $8,000 is invested at a simple interest rate of 1.5%. What Is the total amount after 3 years?

Answer 1

Abigail Allen

Total amount after three years#=$8.360#

Given -

Principal amount #p=$.8,000# Rate of interest #r=1.5%# Duration #n=3# years

After three years, the total amount is equal to the principal plus the interest.

Total amount after three years#=p + (pnr)=8000 +(8000xx1.5/100xx3)=8000+360=$8.360#

Total amount after three years#=$8.360#

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Answer 2

Avery Alexander

The total amount after 3 years can be calculated using the simple interest formula:

Total amount = Principal + (Principal * Rate * Time)

Total amount = $8,000 + ($ 8,000 * 0.015 * 3)

Total amount = $8,000 + ($ 360)

Total amount = $8,360

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Answer from HIX Tutor

When evaluating a one-sided limit, you need to be careful when a quantity is approaching zero since its sign is different depending on which way it is approaching zero from. Let us look at some examples.