How much money anil should invest which will give him an interest of ₹1512 in 4 1⁄2 years at 3 1⁄2 % per annum simple interest?

₹

Step-by-step explanation:

we know that

The simple interest formula is equal to

where

I is the amount interest Value

P is the Principal amount of money to be invested

r is the rate of interest  

t is Number of Time Periods

in this problem we have

substitute in the formula above

answer: the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.

step-by-step explanation:

the given rate of interest i= 85%

in calculating the monthly payment for a loan with an interest rate compounded monthly, the value of the interest rate per period we use in the formula must be in decimal form.

to convert it in decimal, we divide it by 100, we get

hence, the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.

$8

step-by-step explanation:

it is pretty much backwards.

you take the 4x2 multiply that, and that is = $8