gothicfairy76 gothicfairy76

07-03-2021
Mathematics

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What is the total amount of interest using simple interest given the following: Principal: $20,000 Interest rate: 12% Time: 10 Months

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abidemiokin abidemiokin

12-03-2021

Answer:

Amount = $22000

Step-by-step explanation:

Amount = Principal + Interest

Get the interest

Interest = PRT/100

Interest = 20,000*12*10/12*100

Interest = 200 * 10

Interest = $2000

Amount = $20,000 + $2000

Amount = $22000

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