A woman deposited Tsh 480000 in CRBD which charges an interest of 15% per annum.How much did she get after six months?# anyone to help me plz#
480000(.15)(.5)= 36,000
can you take 36000 + 480000 after that to fulfill the requirement of questions or it is wrong?? @Anonymous
To calculate the amount the woman will get after six months, we can use the following formula:
Amount = Principal + (Principal * Interest Rate * Time)
Where:
Principal = Tsh 480000
Interest Rate = 15% per annum (which means 15/100 = 0.15)
Time = 6 months (which is 6/12 = 0.5 years)
Let's substitute these values into the formula:
Amount = 480000 + (480000 * 0.15 * 0.5)
Now, we can calculate the amount:
Amount = 480000 + (480000 * 0.075)
= 480000 + 36000
= 516000
Therefore, the woman will get Tsh 516,000 after six months.