Respuesta :
If $10,000 is invested at x percent simple annual interest for n years, the total amount of interest would be F = 10,000n(x/100)
What do you understand by the term simple interest?
Simple interest is a quick and straightforward technique to compute interest on money. In the simple interest method, interest always applies to the initial principle amount, with the same rate of interest for each time cycle. When we put our money in a bank, we receive x percent simple annual interest on it. Banks charge many kinds of interest, one of which is simple interest. Now, before delving further into the idea of simple interest, let's first define what a loan is.
A loan is an amount borrowed by a person from a bank or other financial institution to meet their requirements. Home loans, auto loans, student loans, and consumer lending were just few examples of loans.
How to solve?
F = P(1+rt), where Future value is F, Present value is P, Rate is R, Time is t
F = 10,000(1+xn)
F = 10,000(xn)
F = 10,000(n * x/100)
F = 10,000n(x/100)
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