how much interest is earned on 6200 at 4% for 1 yearwith soution
Answer (1)
To find the simple interest, use the formula:[tex]\mathsf{Interest = Principal \times Rate \times Time}[/tex]Principal - 6200Rate - 4℅ ( 0.04 )Time - 1 year[tex]\mathsf{Interest = 6200 \times 0.04 \times 1}[/tex][tex]\mathsf{Interest = 248}[/tex][tex]\boxed{\mathsf{₱248\ interest\ earned}}[/tex]
