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Shane invests $7000 that earn simple interest of 3%. The interest is payable at the maturity of the bonds after 5 years. Find the total amount that Shane will receive at the end of 5 years.in bonds
$7,000 + (7,000*.03*5) = $8,050. At the end of 5 years Shane will have $8,050. ($1,050 in interest).
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Expert answered|debnjerry|Points 36845|
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Asked 9/11/2012 7:31:55 PM
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1 1/6 * 3/5
= 7/6 * 3/5
= (7*3)/(6*5)
= 21/30
= 7/10
Added 7/28/2014 1:46:07 PM
This answer has been confirmed as correct and helpful.
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