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8 August, 11:08

Investment of $3000 at 16% simple interest for two years.

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Answers (2)
  1. 8 August, 12:51
    0
    I=PRT

    r=rat

    P=present amount

    I=interst

    t=time in yeare

    2 years

    16%

    3000

    I=2*3000*0.16

    I=$960
  2. 8 August, 13:40
    0
    16% of $100 is $16

    16% of $1000 is $160

    16% of $3000 is $480

    2 years of simple interest 16% on $3000

    = $3000 + $480 + $480

    = $3960
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