Business High School

Find the simple interest paid.
9. Principal: $350
Annual rate: 4%
Time: 3 years
Interest

Answers

Answer 1

Answer:

$392

Explanation:

Using the simple interest formula....

A=P(1+rt)

A=350(1+(0.04)(3))

A=350(1+(0.12)

A=350(1.12)

A=350x1.12

A=392

Related Questions

A&E) Subscription received in cash Rs 60,000; subscription received in advance for next year Rs 3,000 and received in advance during previous year is Rs 2,000.Subscription in arrears at the end of current year Rs 5,400 . Amount credited to Income and Expenditure Account will be :(a)Rs 53,600(b)Rs. 55,600(c)Rs. 66,400(d)Rs. 64,400

Answers

Answer:

Amount credited to Income and Expenditure Account = Rs64,400

Explanation:

Given:

Subscription received in cash = Rs60,000

Subscription received in advance = Rs3,000

Subscription in arrears at the end of current year = Rs5,400

Subscription received in for previous year = Rs2,000

Find;

Amount credited to Income and Expenditure Account

Computation:

Amount credited to Income and Expenditure Account = Subscription received in cash + Subscription in arrears at the end of current year + Subscription received in for previous year - Subscription received in advance

Amount credited to Income and Expenditure Account = 60,000 + 5,400 + 2,000 - 3,000

Amount credited to Income and Expenditure Account = 67,400 - 3,000

Amount credited to Income and Expenditure Account = Rs64,400

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