Mathematics, 23.06.2019 15:00 katieP1992
Aman invested $8000 in a bank at 5% per annum simple interest for 6 years. what is the total amount of money he would have received at the end of the period of investment?
Answers: 2
![\bf ~~~~~~ \textit{Simple Interest Earned Amount} \\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill & \$8000\\ r=rate\to 5\%\to \frac{5}{100}\dotfill &0.05\\ t=years\dotfill &6 \end{cases} \\\\\\ A=8000[1+(0.05)(6)]\implies A=8000(1.3)\implies A=10400](/tpl/images/0008/3761/41104.png)
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Aman invested $8000 in a bank at 5% per annum simple interest for 6 years. what is the total amount...
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