Spendinfg of Maria = (2/7) of $350
= $100.
The rest of the money invested = 350-100 =
$250.
The rate of interest on investment =
5%.
The money after she gets after 2 years is required to be
calculated.
We use the formula Interest amount = PTR/100 where P =
amount invested , T = number of years, and R = rate of
interest.
Therefore the interst amount Maria gets after 2 years =
250*2*5/100 = $25.
So the amount Maria should get after 2 years =
Invested amount +Interest accrued = 250+25 = $275.
No comments:
Post a Comment