This mathematics problem involves applying core mathematical principles and formulas. Below you will find a complete step-by-step solution with detailed explanations for each step, helping you understand not just the answer but the method behind it.
ScanSolve AI Answer
Step 1: Identify the given values for question 4. The principal amount is P = N15,000. The annual interest rate is R = 5\%. The simple interest to be yielded is I = N4,500. Step 2: Convert the interest rate from a percentage to a decimal. R = 5\% = (5)/(100) = 0.05 Step 3: Use the simple interest formula and rearrange it to solve for time T. The formula for simple interest is: I = P × R × T To find the time T, rearrange the formula: T = (I)/(P × R) Step 4: Substitute the given values into the formula. T = N4,500N15,000 × 0.05 Step 5: Calculate the denominator. 15,000 × 0.05 = 750 Step 6: Calculate the time T. T = (4,500)/(750) T = 6 The time taken is 6 years. 6 years That's 2 down. 3 left today — send the next one.