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2 June, 13:11

Based on simple interest, find the total amount saved or owed.

principal = $1700; rate = 6%; time = 5 years

A.

$1802

B.

$1904

C.

$2210

D.

$2312

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Answers (1)
  1. 2 June, 14:25
    0
    Firstly we need to find out how much is 6% from $1700:

    1700 * 6% =

    = 1700 * 6/100 =

    = 17 * 6 =

    = 102

    Now we multiply the result by 5 (years):

    102 * 5 = 510

    Now we add $510 to the principal:

    $1700 + $510 = $2210

    Correct answer: C
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