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Simple Interest, SMB-011

Find an expression for the total value of an investment, in dollars, if $24 000 is invested for `x` months at a simple interest rate of 4.75% per annum?   (2 marks)

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`$(24\ 000 + 95x)`

Show Worked Solution
`text(Interest)` `= 24\ 000 xx x/12 xx 4.75/100`
  `= 95x`

 
`:.\ \text{Investment value}\ =$(24\ 000 + 95x)`

Filed Under: Simple Interest Tagged With: num-title-ct-corea, smc-4332-10-Find interest

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