noorhan11 noorhan11
  • 17-11-2021
  • Mathematics
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Ahmed invests an amount of $1200 for three years at 6%. Work out its a- Simple interest b- Total amount after three years.

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lamaalyaqoub2012
lamaalyaqoub2012 lamaalyaqoub2012
  • 17-11-2021

Answer: In 3 years the money earned 18%. If we rounded to 20%, the interest would have been 500(0.20) or $100. Yes, $90 is reasonable.

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