Zainab0786 Zainab0786

23-08-2020
Mathematics

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jimrgrant1 jimrgrant1

23-08-2020

Answer:

£7448

Step-by-step explanation:

Simple interest (I) is calculated as

I = [tex]\frac{PRT}{100}[/tex]

P is principle ( amount invested), R is rate of interest and T is time in years.

Here P = £5600, R = 11 and T = 3 , thus

I = [tex]\frac{5600(11)3)}{100}[/tex] = £1648

Value after 3 years = £5600 + £1848 = £7448

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