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26 Apr 2017, 08:23
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If a newlywed couple invested $20,000 at 8% annual interest, what was the total value of the investment after 6 months?
A. $21,600
B. $20,800
C. $16,000
D. $10,800
E. $1,600
A. $21,600
B. $20,800
C. $16,000
D. $10,800
E. $1,600
26 Apr 2017, 11:05
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A = P(1+RT/100)
A = 20000(1+8/200)
= 20000*208/200
= 100*208
= 20800
Answer is B. $20,800
A = 20000(1+8/200)
= 20000*208/200
= 100*208
= 20800
Answer is B. $20,800
07 Aug 2017, 02:01
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Bunuel
Simple Interest=P*R*T/100
Here P= $20,000, R=8% pa, and time T is 1/2 years
So, S.I= $800
hence, Amount=P+S.I= $ 20,800
