2 years ago

If $380 is invested for one year at 13% simple interest, how much interest is earned?

Mathematics

1 answer:

pashok25 [27]2 years ago

7 0

Answer: $49.4

Step-by-step explanation:

Simple interest is calculated thus:

Principal × Rate × Time

Principal= $380

Rate= 13%= 13/100=

Time= 1

Therefore interest earned =380× 0.13×1

=$49.4

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