Sara puts $4,000 into an investment yielding 5% annual simple interest; she left the money in for five years and 6 months. How much interest does Sara get at the end of those five years and 6 months?

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nuuk nuuk · Answer 1 · 2021-03-21T02:03:21+01:00

Answer: [tex]\$1100[/tex]

Step-by-step explanation:

Given

Principal amount is [tex]P=\$4000[/tex]

Rate of interest [tex]R=5\%[/tex]

Time period [tex]T=5\ yr\ \text{and}\ \text{6 months}\equiv 5.5\ yr[/tex]

We know, Simple interest is

[tex]\Rightarrow S.I.=\dfrac{P\times R\times T}{100}[/tex]

Putting values

[tex]\Rightarrow S.I.=\dfrac{4000\times 5\times 5.5}{100}=\$1100[/tex]

Sara gets [tex]\$1100[/tex] after 5 years and 6 months