Calculate the Simple Interest if $ 6000 is invested at 7.5% per annum for a period of 5 years.

Step 1: Identify the given values. The principal amount (P) is 6000. The annual interest rate (R$) is 7.5%, which is 0.075 as a decimal. The time period (T) is 5 years. Step 2: Use the simple interest formula. The formula for simple interest is: I = P × R × T Step 3: Substitute the values into the formula. I = $6000 × 0.075 × 5 Step 4: Calculate the simple interest. I = $450 × 5; I = $2250 The simple interest is: $2250

Calculate the Simple Interest if $ 6000 is invested at 7.5% per annum for a period of 5 years.

Step 1: Identify the given values. The principal amount (P) is 6000. The annual interest rate (R$) is 7.5%, which is 0.075 as a decimal. The time period (T) is 5 years. Step 2: Use the simple interest formula. The formula for simple interest is: I = P × R × T Step 3: Substitute the values into the formula. I = $6000 × 0.075 × 5 Step 4: Calculate the simple interest. I = $450 × 5; I = $2250 The simple interest is: $2250

Solved: Calculate the Simple Interest if $ 6000 is invested…

Identify the given values.
The principal amount ( $P$ ) is $6000. The annual interest rate ($ R $) is 7.5%, which is 0.075 as a decimal. The time period ($ T$) is 5 years.
Use the simple interest formula.
The formula for simple interest is:
$I = P \times R \times T$
Substitute the values into the formula.
$I = \$6000 \times 0.075 \times 5$
Calculate the simple interest.
$I = \$450 \times 5$ $I = \$2250$ The simple interest is: $\boxed{\$2250}$

Calculate the Simple Interest if $ 6000 is invested at 7.5% per annum for a period of 5 years.

Answer

Step-by-step solution

Identify the given values.

Use the simple interest formula.

Substitute the values into the formula.

Calculate the simple interest.

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