math

what sum of money will become RM15000 in three year at a simple interest rate of 8% per annum?

1. 👍 0
2. 👎 0
3. 👁 239
1. x + x(.08)(3) = 15000
1.24x = 15000
x = 12096.77

1. 👍 0
2. 👎 0
2. A sum of money,X was deposited in a saving account at 10 percent compounded daily on 25 july 1993. on 13 august 1993, rm600 was withdrawn and the balance as on 31 december 1993 was RM 8900.calculate the value of X using exact time and 360 day year.

1. 👍 0
2. 👎 0

Similar Questions

1. algebra

A total of \$12,000 is invested in two funds paying 9% and 11% simple interest. If the yearly interest is \$1,180, how much of the \$12,000 is invested at each rate? We have two unknowns: the amount of money invested at 9% and the

2. math

Pat deposits \$600.00 in a saving accounts at a simple interest rate of 6% per year for five years. How much money will pat have earned in interest at the end of five years?

3. College alerbra

Scott invested a total of \$9500 at two separate banks. One bank pays simple interest of 11% per year while the other pays simple interest at a rate of 9% per year. If Scott earned \$973.00 in interest during a single year, how much

4. maths

A sum of money becomes 8/5 of itself in 5 years at certain rate of simple interest. Find the rate of interest.

1. Algebra II

An investment service promises to triple your money in 12 years. Assuming continuous compounding of interest, what rate of interest is needed? For the question is it asking me if simple interest or continuously compounded interest

2. math, financial math

Question says " Find the accumulated amount at the end of 9 months on an \$800 deposit in a bank pating simple interest at a rate of 6% year". I know that the simple interest formula is A=P (1+rt) With p being \$800 and r being

3. algebra

Andrew has a four-year college loan for \$20,000. The lender charges a simple interest rate of 5 percent. How much interest will he have to pay? simple interest = P × r × t

4. Algebra

Katie invested a total of \$7,000, part at 2% simple interest, and part at 3% simple interest. At the end of 1 year, the investments earned, \$184.00 interest. How much was invested at each rate?

1. Math

When Frederick was born, his grandparents gave hima a gift of \$2000, which was invested at a simple interest rate of 5% per year. How much money will Frederick have when he can collect the monet at the age of 18? ( Assume no money

2. Finite Math

A bank deposit paying simple interest at the rate of 8% per year grew to a sum of \$1200 in 10 months. Find the principal. (Round your answer to the nearest cent.)

3. maths

a sum of money doubles in 20 years on simple interest. it will triple at the same rate in ?

4. Social Studies

I was wondering if I could check my answers with someone. I'm a bit confused with interest. I put stars next to the answers I chose. Thank you. An interest rate is a special type of (1 point) loan. **price. bank. service. 2. How