I need help for this question. Can someone pls help me?

Discussion in 'Personal Homework Help' started by Charmaine, Jan 20, 2018.

  1. Charmaine

    Charmaine New Member

    The simple interests earned on the sum of money for 4 years at 7.5% p.a. exceeds that on the same sum for 3.5 years at 8% p.a. by $90.
    (a)Find the original sum of money.
    (b)If the original sum of money accumulates to $4612.50 in 5 months at simple interest, find the interests rate per annum.

  2. math_celebrity

    math_celebrity Administrator Staff Member

    Simple interest = i(n)
    Using 4 years at 7.5% (0.075), we get:
    Simple interest = 4(0.075) = 0.3

    What is p.a.?

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