Ask Question
29 June, 03:00

Luke invested $110 at 3% simple interest for a period of 6 years. How much will his investment be worth after 6 years?

a) $132.80

b) $133.80

c) $127.80

d) $129.80

e) $126.80

f) None of the above.

+4
Answers (1)
  1. 29 June, 04:31
    0
    investment after 6 years = $129.80

    Explanation:

    given data

    invested = $110

    simple interest = 3%

    period = 6 years

    to find out

    How much will his investment be worth after 6 years

    solution

    first we get here interest that is express as

    interest = invested amount * rate * time ... 1

    interest = $110 * 3% * 6

    interest = $19.8

    and

    investment after 6 years = invested amount + interest ... 2

    investment after 6 years = $110 + $19.8

    investment after 6 years = $129.80
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Luke invested $110 at 3% simple interest for a period of 6 years. How much will his investment be worth after 6 years? a) $132.80 b) ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers