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What is the total amount, after investing $6000 at 5.5% p.a. simple interest for 3 months?

Answer 1

Kennedy Adams

#$6,000+$82.50 = $6,082.50#

The formula to calculate the interest earned or payable is:

#SI = (PRT)/100#

#= (6000 xx 5.5xx 3)/(100 xx12)" "larr# 3 months = #3/12# years

#SI = $82.50#

This is only the interest that is earned...

The total amount = #$6,000+$82.50 = $6,082.50#

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Answer 2

Eli Assouline

To calculate the total amount after investing $6000 at 5.5% per annum simple interest for 3 months:

Simple Interest = Principal × Rate × Time Simple Interest = $6000 × 5.5% × (3/12) years Simple Interest =$ 6000 × 0.055 × 0.25 Simple Interest = $82.50

Total Amount = Principal + Simple Interest Total Amount = $6000 +$ 82.50 Total Amount = $6082.50

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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.