raghadalderasi raghadalderasi

09-12-2017
Mathematics

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The principle is 300 and the rate is 3%and 4 years is the time what is the interest earned and the new balance

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jdoe0001 jdoe0001

09-12-2017

[tex]\bf ~~~~~~ \textit{Simple Interest Earned}\\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\to& \$300\\ r=rate\to 3\%\to \frac{3}{100}\to &0.03\\ t=years\to &4 \end{cases} \\\\\\ I=300\cdot 0.03\cdot 4[/tex]

the new balance is 300 + I.

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