Calculate the time in which * 5,000 wouldbecome * 5,500 at an interest

1.	Calculate the time in which * 5,000 wouldbecome * 5,500 at an interest rate of 8% perannum.ill money deposited in a bank
Answer» Answer: 15month. Step-by-step EXPLANATION: interest of $ 5000 @ 8% for 12 months is (5000×8/100) = $400. time REQUIRED to GET$500 interest @8% = (12×500/400) months = 15 months.

Calculate the time in which * 5,000 wouldbecome * 5,500 at an interest rate of 8% perannum.ill money deposited in a bank

Answer»

Answer:

15month.

Step-by-step EXPLANATION:

interest of $ 5000 @ 8% for 12 months is (5000×8/100) = $400.

time REQUIRED to GET$500 interest @8% = (12×500/400) months = 15 months.

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Calculate the time in which * 5,000 wouldbecome * 5,500 at an interest rate of 8% perannum.ill money deposited in a bank​

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Calculate the time in which * 5,000 wouldbecome * 5,500 at an interest rate of 8% perannum.ill money deposited in a bank