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A sum of $1500 is invested at a simple interest rate of 4% per annum. What will
Practice Questions
Q1
A sum of $1500 is invested at a simple interest rate of 4% per annum. What will be the total amount after 5 years?
$1800
$1600
$1700
$1500
Questions & Step-by-Step Solutions
A sum of $1500 is invested at a simple interest rate of 4% per annum. What will be the total amount after 5 years?
Steps
Concepts
Simple Interest
– The calculation of interest earned or paid on a principal amount over a specific period at a fixed rate.
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