Calculate Accrued amount For Simple interest.

Mathematics
Calculate Accrued amount For Simple interest.

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Answer

R8060.00\text{R}8060.00

My apologies, Tebogo! I missed the "For Simple interest" instruction in the previous message. Let's calculate it correctly using simple interest.

Step 1: Identify the given values. The principal amount is P=R6500P = R6500. The number of years is N=4N = 4. The interest rate is R=0.06R = 0.06.

Step 2: State the formula for simple interest and the accrued amount. The simple interest (II) is calculated as: I=P×R×NI = P \times R \times N The accrued amount (AA) is the principal plus the simple interest: A=P+IA = P + I Alternatively, the accrued amount can be calculated directly as: A=P(1+R×N)A = P(1 + R \times N)

Step 3: Substitute the values into the simple interest formula. I=6500×0.06×4I = 6500 \times 0.06 \times 4

Step 4: Calculate the simple interest. I=390×4I = 390 \times 4 I=R1560I = R1560

Step 5: Calculate the accrued amount by adding the interest to the principal. A=6500+1560A = 6500 + 1560 A=R8060A = R8060

The accrued amount for simple interest is R8060.00\boxed{R8060.00}.

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